Karachi: Sindh Modaraba Management Limited has released its financial performance report for the period ending December 31, 2024, showcasing a resilient performance despite prevailing economic challenges. The company's total assets as of December 31, 2024, stood at 1.97 billion rupees, marking an increase from the 1.94 billion rupees reported on June 30, 2024. This growth is attributed to strategic financial management and effective utilization of resources.
The company’s current assets experienced a slight decrease from 1.52 billion rupees in June 2024 to 1.49 billion rupees by the end of December 2024. However, significant growth was recorded in the cash and bank balances, which surged to 879.66 million rupees from 202.14 million rupees. This increase in liquid assets is complemented by a notable entry in Morabaha Finance amounting to 150.00 million rupees, which was absent in the previous period.
Non-current assets increased to 480.97 million rupees from 421.69 million rupees, primarily due to the rise in Diminishing Musharaka, which reached 472.56 million rupees, up from 414.67 million rupees in June 2024. This reflects the company's focus on long-term financial stability and growth.
Liabilities saw a reduction from 70.89 million rupees in June 2024 to 57.73 million rupees by December 2024. The decrease in liabilities indicates effective debt management and operational efficiency. Furthermore, certificate holders’ equity rose to 1.92 billion rupees from 1.87 billion rupees, bolstering investor confidence in the company's financial health.
The financial results for the half-year ended December 31, 2024, show a profit of 106.13 million rupees, slightly down from 112.56 million rupees in the corresponding period of the previous year. The company reported a total comprehensive income of 106.13 million rupees, maintaining consistency with the previous year's performance.
According to information available from Pakistan Stock Exchange (PSX), the company's income from Diminishing Musharaka and Morabaha amounted to 183.26 million rupees for the period ended December 2024, while income from bank deposits and term deposit receipts contributed an additional 92.77 million rupees.
Cash flows from operating activities recorded a net cash outflow of 216.17 million rupees, reflecting increased investments in Diminishing Musharaka and Morabaha. The company continued its strategic focus on financing activities, although it faced a decrease in cash and cash equivalents, ending the period at 879.66 million rupees.
Sindh Modaraba Management Limited remains committed to navigating the economic landscape with resilience and strategic financial planning, ensuring sustainable growth and returns for its stakeholders. The company operates within the designated market category of non-banking financial institutions, maintaining a focus on ethical and Shariah-compliant financial practices.