Habib Modarba Ltd. announced Financial Results for the year ended June 30, 2017.
The company’s Income from Lease Financing for the period decreased by 13 percent in the outgoing year, whereas the Profit after Taxation for the Period also declined 1 percent.
The board has recommended an interim Cash Dividend for the quarter ended June 30, 2017 at the rate of 20% i.e. Rs 1/- per share. The board issued no bonus or right shares.
Comparison of Key Financials:
Financial Results – For the Year Ended |
|||
Key Financials |
2017 |
2016 |
% Change |
Income from Lease Financing |
218,088,742 |
250,631,485 |
-13% |
Income on diminishing Musharaka Financing |
321,751,433 |
224,886,195 |
43% |
Administrative Expenses |
88,621,151 |
80,770,950 |
10% |
Other Income |
103,658,269 |
105,362,647 |
-2% |
Other Operating charges |
1,378,274 |
1,207,940 |
14% |
Financial Charges |
203,084,962 |
155,345,333 |
31% |
Modaraba Management Company's Remuneration |
35,041,406 |
34,355,610 |
2% |
Services Sales Tax on Management Company's Remuneration |
4,555,383 |
4,809,785 |
-5% |
Workers Welfare Fund |
6,216,345 |
6,087,814 |
2% |
Profit Before Taxation |
304,600,923 |
298,302,894 |
2% |
Taxation – prior |
10,083,761 |
– |
|
Profit for the Year |
294,517,162 |
298,302,894 |
-1% |
Earnings per certificate – basic and diluted |
1.46 |
1.48 |
-1% |
The complete statements can be accessed here.