Karachi: First Paramount Modaraba's corporate briefing session for 2024 highlighted significant revenue growth in its FPM Petro Services division and outlined a strategic focus on expanding business operations amidst impending regulatory challenges. The session, held on October 20, 2023, showcased the company's robust financial performance and future projections.

The FPM Petro Services division reported a revenue increase to 549 million rupees in 2024, a substantial rise from 282 million rupees in 2023. This growth trajectory has been attributed to strategic realignment and the continuous introduction of new products. According to information available from the Pakistan Stock Exchange (PSX), the company anticipates sustained growth in this division moving forward.

Financial highlights from 2015 to 2024 reveal a steady increase in equity, which reached 250 million rupees in 2024, up from 221 million rupees in 2023. Profit before tax (PBT) also showed notable improvement, escalating to 40.66 million rupees from 11.79 million rupees in the previous year. Earnings per share (EPS) rose sharply to 2.07 rupees in 2024 from 0.474 rupees in 2023. Total assets were reported at 475 million rupees in 2024, a slight increase from 450 million rupees in 2023.

The Modaraba faces several challenges, including revisions in Modaraba Regulations, such as a requirement to meet minimum equity of 500 million rupees by August 2025 and maintaining a long-term credit rating of "A-", currently standing at "BBB". Despite these challenges, the Modaraba has outlined plans to expand business operations, diversify revenue streams, enter untapped markets, and innovate in emerging technologies to navigate the evolving business environment.