First Habib Modaraba witnesses minimal change in profits for 1HFY19

MG News | February 25, 2019 at 04:28 PM GMT+05:00

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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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