Karachi, Al-Zamin Modaraba Management (Pvt.) Ltd., the Management Company of Trust Modaraba, announced its financial results for the year ended June 30, 2023, during a board meeting held in Karachi on September 12, 2023. The board approved the annual audited accounts and recommended no cash dividends, bonus shares, or other entitlements for the certificate holders.

The financial results for the year 2023 revealed the following key details:

Cash Dividend: Nil

Bonus Shares: Nil

Right Shares: Nil

Any Other Entitlement or Corporate Action: Nil

Any Other Price-Sensitive Information: Nil

Additionally, the Share Transfer Books of the company are set to be closed from Thursday, October 5, 2023, to Thursday, October 12, 2023, both days inclusive.

The balance sheet as of June 30, 2023, indicated the company's assets and liabilities. Notably, there was no declaration of profits for distribution to certificate holders, as indicated by the absence of cash dividends or bonus shares.

In the profit and loss account for the year ended June 30, 2023, the company reported income from various sources, including ijarah and profits on murabaha and musharakah finances. However, operating expenses, provisions for doubtful receivables, and unrealized losses on revaluation of financial assets offset some of these gains. After accounting for taxation, the company reported a loss of Rs. 73,105 for the year. The earnings per certificate stood at zero point thirty-eight (0.38) rupees, indicating no significant earnings for certificate holders.

The absence of dividends or bonuses for certificate holders in the financial results suggests a conservative financial approach by Trust Modaraba for the year 2023.