Lahore, First Punjab Modaraba, a reputable financial institution, announced its financial results for the three months ended March 31, 2023. The Board of Directors, in a meeting held on July 30, 2023, approved the accounts for the said period.

Despite the challenging economic climate, the Modaraba demonstrated resilience and recorded encouraging financial performance during the three-month period. The Unconsolidated Profit and Loss Account (Un-Audited) revealed a profit of Rs. 1,104,830,000, with earnings per certificate (basic and diluted) of Rs. 0.03. This signified a positive trend for the Modaraba and showcased its efficient management and strategic decision-making.

Furthermore, the Consolidated Profit and Loss Account (Un-Audited) displayed an operating loss of Rs. 8,710,742, and after accounting for provisions and impairment adjustments, the Modaraba reported a profit of Rs. 673,300,000. The earnings per certificate (basic and diluted) for the consolidated account stood at Rs. 0.02.

During the Board meeting, it was decided that no interim cash dividend or bonus issue would be granted to the shareholders for the specified period. However, the Modaraba's management remains committed to pursuing opportunities for growth and delivering value to its investors.

In light of these financial results, the Share Transfer Books of the Company will remain closed from - N/A - to - N/A - (both days inclusive). Investors who have transferred their units before the closing date will be entitled to the specified benefits during this period.

First Punjab Modaraba's dedication to transparency and accountability has earned it the trust and confidence of its investors. The management looks forward to continuing this positive trajectory and aims to strengthen its position in the market, offering attractive returns and opportunities for its valued investors.