B.F.MODARABA CORPORATE BRIEFING FOR THE FINANCIAL YEAR 2023-24

Karachi: B.F.Modaraba, managed by E.A.Management (Pvt) Ltd. and part of the Amin Bawany Group, has announced significant financial results for the fiscal year 2023-24 during their corporate briefing session. The session, which was held in compliance with notices from the Pakistan Stock Exchange (PSX), took place at the company’s headquarters in Karachi on October 28, 2024.

The firm reported a pre-tax profit of Rs. 6.26 million for the year, a sharp turnaround from the pre-tax loss of Rs. 5.99 million recorded in the previous year. Gross revenues for the year stood at Rs. 18.45 million, marking a 76% increase from last year’s figure of Rs. 10.46 million. The major revenue contributors included Diminishing Musharakah Income, Dividend Income, and Trading Income, totaling Rs. 6.73 million, Rs. 5.99 million, and Rs. 4.50 million, respectively.

According to information available from the Pakistan Stock Exchange (PSX), the remarkable recovery in B.F.Modaraba’s financial performance aligns with positive trends in the broader equity market. The KSE-100 Index, a barometer of market health, surged by 89% to close at 78,444 points as of June 30, 2024, compared to 41,452 points at the same time last year. This surge reflects heightened investor confidence and a generally favorable economic environment.

The future outlook for B.F.Modaraba remains optimistic, as the company benefits from improved economic conditions, a more stable political landscape, and a strengthening Pakistani rupee. These factors are expected to bolster the capital market further and enhance business operations across the board. Additionally, B.F.Modaraba’s specialized business units, such as the Spray Pond and Energy Conservation division, continue to develop innovative solutions aimed at boosting energy efficiency in the sugar and allied industries.

This positive trajectory is anticipated to continue, supported by favorable economic indicators like declining inflation and easing discount rates, which are likely to stimulate further industrial activity and profitability for the company in the upcoming year.

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