Karachi: We have to inform you that the Board of Directors of BankIslami Modaraba Investments Limited, Management Company of Modaraba Al-Mali (MODAM), in their meeting held today at 04:30 p.m. approved the followings:
i) Cash Dividend Nil
ii) Bonus Issue Nil
iii) Right Issue Nil
The un- audited Financial Results for the 1st quarter ended September 30, 2011 are attached herewith.
Profit and Loss Account for the Quarter Ended September 30, 2011 (Un-Audited)
Note |
30 September |
30 September |
|
2011 |
2010 |
||
Rupees |
|||
Income from maintenance services | 15,458,833 | 8,595,627 | |
Income from Ijarah finance | 8,143,844 | 7,289,315 | |
Income from operation of fuel station | 20 | (56,145) | – |
Profit on diminishing Musharaka finance | 268,566 | 1,102,606 | |
Profit on investments in sukuk certificate | 27,412 | 425,966 | |
Profit on morabaha finance | 1,660 | 9,578 | |
Other operating income | 11 | 800,496 | 725,271 |
———- | ———- | ||
24,644,666 | 18,148,363 | ||
Profit distribution on borrowings | – | 92,627 | |
Depreciation on assets under Ijarah arrangements | 811,930 | 785,328 | |
Operating costs | 24,462,359 | 17,018,287 | |
———- | ———- | ||
25,274,289 | 17,896,242 | ||
———- | ———- | ||
(629,623) | 252,121 | ||
Impairment reversal – net | 16,340 | 285,280 | |
———- | ———- | ||
(613,283) | 537,401 | ||
Modaraba company’s management fee | – | (53,740) | |
———- | ———- | ||
(Loss) /profit for the quarter | (613,283) | 483,661 | |
Taxation | 12 | (45,744) | – |
Other comprehensive income | – | – | |
———- | ———- | ||
Total (loss) / profit after comprehensive income | (659,027) | 483,661 | |
———- | ———- | ||
Earnings per certificate – basic and diluted | (0.033) | 0.026 |
The annexed notes form an integral part of these financial statements.
BankIslami Modaraba Investments Limited Modaraba Management Company
For more information, contact:
Modaraba Al-Mali
10th Floor, Progressive Square,
Opp. Nursery, Shahrah-e-Faisal,
Karachi, Pakistan
Ph: (92-21) 34547521
Fax: (92-21) 34547526
Web: www.modarabaalmali.com