Karachi: First Imrooz Modaraba has disclosed its financial results for the first quarter ended September 30, 2024, showing a notable improvement in profitability. On October 23, 2024, the company revealed that its meeting held earlier that day led to these results being officially recommended and subsequently published.

The company reported total sales of Rs. 308.11 million for July to September 2024, down from Rs. 351.81 million in the same period last year. However, the cost of sales experienced a more substantial decline from Rs. 282.85 million to Rs. 233.44 million, enhancing the gross profit margin. The gross profit registered was Rs. 74.68 million, compared to Rs. 68.96 million last year, showing increased efficiency in operations.

Operating expenses were slightly up, standing at Rs. 26.19 million against last year's Rs. 20.82 million. The operating profit, therefore, came in at Rs. 48.49 million, up from Rs. 48.14 million reported in 2023. According to information available from the Pakistan Stock Exchange (PSX), the financial charges decreased slightly to Rs. 8.08 million from Rs. 8.98 million. The other income for the company increased to Rs. 0.94 million from Rs. 0.27 million.

Provision for taxation for the current quarter was Rs. 11.37 million, while the net profit after taxation rose to Rs. 29.17 million, up from Rs. 14.83 million in the corresponding quarter of the previous year. The earnings per certificate, both basic and diluted, stood at Rs. 0.0972.

Please note that the above information has been uploaded on the PSX web portal PUCARS, ensuring transparency and accessibility for investors. A soft copy of the account details will also be transmitted electronically through PSX.