First Habib Modaraba witnesses minimal change in profits for 1HFY19
MG News | February 25, 2019 at 04:28 PM GMT+05:00
February 25, 2019 (MLN): The profits of First Habib Modaraba have diminished by 2.02% at Rs. 149 million (EPS: 0.74) for the half year ended December 31, 2018.
The net earnings showed minimal volatility as the positive impact created from increase in income from lease financing and musharka financing was negated by negative impact resulted from increase in direct and indirect expenses of the company.
| Profit and loss account for the six months ended December 31 2018 (Rupees) | |||
|---|---|---|---|
|
| Dec-18 | Dec-17 | % Change |
| Income from lease financing | 94,005,404 | 98,183,482 | -4.26% |
| Income from diminishing musharaka financing | 300,331,599 | 186,047,710 | 61.43% |
| Administrative expenses | -65,514,667 | -50,267,337 | 30.33% |
| Other income | 59,998,698 | 65,099,697 | -7.84% |
| Financial charges | -217,253,148 | -123,951,667 | 75.27% |
| Modaraba Management Company’s remuneration | -17,156,789 | -17,511,189 | -2.02% |
| Sales tax on Modabaraba Management Company's remuneration | -2,230,383 | -2,276,455 | -2.02% |
| Provision for Sindh Workers' Welfare Fund | -3,043,614 | -3,106,485 | -2.02% |
| Profit for the period | 149,137,100 | 152,217,756 | -2.02% |
| Earning per certificate- basic and diluted | 0.74 | 0.76 | -2.63% |
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