Corporate Alert: Modarba Al-Mali (BankIslami Modarba Investments) declares a DPS of Rs.0.28/- per share and reports an EPS of 0.35 for the year ended June 30, 2017

Modarba Al-Mali (BankIslami Modarba Investments) announced Financial Results for the year ended June 30, 2017.

The company’s Ijarah Rentals for the period declined by 2 percent in the outgoing year, whereas the Profit after Taxation for the Period increased 49 percent owing to a substantial decline in operating and other expenses.

The board has recommended a Final Cash Dividend at the rate of 2.8% i.e. Rs 0.28/- per share. However, the company posted no bonus or right issue.

Comparison of Key Financials:

Financial Results – For the Year Ended

Key Financials

June 30, 2017

June 30, 2016

% Change

Ijarah rentals – net

46,330,812

47,333,665

-2%

Income from Operation of Fuel Station

8,398,919

6,742,555

25%

Income on deposits with bank

289,623

312,618

-7%

Income on Diminishing Musharaka transactions

253,012

 
 

55,272,366

54,388,838

2%

Depreciation on assets under Ijarah arrangements

38,244,962

38,460,870

-1%

Musharaka profit expense

251,716

1,193,028

-79%

Expenses on fuel station operations

4,517,568

4,270,561

6%

 

12,258,120

10,464,379

17%

Other Income

5,268,362

7,799,673

-32%

Reversal of impairment loss

1,024,082

-100%

Administrative and operating expenses

10,116,679

13,912,414

-27%

Modarba Management company's remuneration

 

Provision for services sales tax on management company's remuneration

1,037

753

38%

Provision for Worker's Welfare Fund

145,270

107,514

35%

Profit for the year before taxation

7,263,496

5,267,453

38%

Taxation

741,936

586,791

26%

Profit for the year after taxation

6,521,560

4,680,662

39%

Other comprehensive income/(loss) for the year

198

221,605

-100%

Total comprehensive income for the year

6,521,362

4,459,057

46%

Earnings per certificate – basic and diluted

0.35

0.25

40%

 

The complete statements can be accessed here.

Posted on: 2017-08-10T10:23:00+05:00