Home / Financial Results / National Bank Modaraba Management Company Limited’s financial results for the quarter ended September 30, 2011

National Bank Modaraba Management Company Limited’s financial results for the quarter ended September 30, 2011

Karachi: We have to inform you that the Board of Directors of our company in their meeting held on October 24, 2011 at 11:30 a.m., at Karachi approved the quarterly financial statements of First National Bank Modaraba for the period ended September 30, 2011.

The complete profit and loss account of First National Rank Modaraba for the quarter ended September 30, 2011 is enclosed.

Condensed Interim Profit and Loss Account (Unaudited) for the Period Ended September 30, 2011

 

Quarter ended

September 30

2011

September 30

2010

Note

Rupees

Rupees

Operating Revenue
Income from ijarah 115,872,871 71,305,466
Profit on morabaha finances 30,855,512 26,494,846
Profit on musharaka finance  1,222,936  250,687
Profit on bank deposits 110,560 102,338
Gain/ (Loss) on short-tern, investments (167,272) (20,566)
Gain on sale of fixed asset  531,333
Other Income 1,994,488 840,506
———–  ———-
150,450,428 98,973,277
Operating Expenditure
Operating expenses 7  4,385,032 3,515,661
Depreciation on asset under Ijarah 79,338,129 47,466,734
Finance Cost  53,945,900 37,397,656
Allowance for potential loss in Ijarah and Morabaha  5,000,000 3,000,000
———–  ———-
142,669,061  91,380,051
———– ———-
Operating profit 7,781,367 7,593,226
Modaraba company’s management fee 778,137 759,323
 ———– ———-
Profit for the Quarter 7,003,230 6,833,903
Provision for taxation  –
 ———–  ———-
Profit after Taxation 7,003,230  6,833,903
Unappropriated Profit Brought Forward 48,711,542 49,231,856
———–  ———-
Profit Available for Appropriation 55,714,772  56,065,759
Appropriation
Transfer to statutory reserve 1,400,646 1,366,781
Dividend for year ended June 30, 2011 (2010: 25,000,000) 25,000,000 25,000,000
 ———–  ———-
 (26,400,646) (26,366,781)
———– ———-
Unappropriated Profit Carried Forward  29,314,126  29,698,978
  ———–  ———-
Earnings per Modaraba Certificate
Basic and diluted  0.28  0.27

 

The annexed notes form an Integral part of these financial statements.

For more information, contact:
National Bank Modaraba Management Company Limited
26- Mclagon Road, Lahore.
Tel: (92-42) 99210641-70,
Ext: 3530 99213249,
Fax: 99213247

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