First Habib Modaraba witnesses minimal change in profits for 1HFY19

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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Posted on: 2019-02-25T16:28:00+05:00

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