Karachi: In a recent financial disclosure, First Prudential Modaraba reported its fiscal results for the quarter ended September 30, 2024, marking a period of stable financial activity but with no dividend distribution to shareholders. The company's Board of Directors, meeting on October 26, 2024, approved these results which highlighted consistent income streams across its various financial products.

According to information available from the Pakistan Stock Exchange (PSX), First Prudential Modaraba generated a total revenue of Rs. 47.64 billion this quarter, slightly down from the Rs. 50.79 billion recorded in the same quarter of the previous year. The company saw a notable decrease in expenses related to depreciation and financial charges, contributing to a profit before taxation of Rs. 10.40 billion, compared to Rs. 23.32 billion last year.

The profit after taxation stood at Rs. 7.19 billion, a decrease from the Rs. 24.93 billion reported in the previous year. This decrease is partly attributed to changes in unrealized gains on investments and a significant reduction in allowances for expected credit losses. The earnings per certificate showed a basic and diluted value of Rs. 0.06, compared to Rs. 0.19 the previous year.

First Prudential Modaraba has announced no cash dividends, bonus shares, or rights shares for this period, aligning with its stable yet conservative financial outlook. The company highlighted its financial results are closely tied to its operational efficiencies and the broader economic conditions affecting investment yields.

The quarterly report for the company will be distributed through PUCARS, ensuring transparency and timely access to financial data for all stakeholders.