Skip to Content

First IBL Modaraba’s financial results of annual accounts for the period ended June 30, 2012

Be First!

Karachi, December 07, 2012 (PPI-OT): We have to inform you that the Board of Directors of M/S IBL Modaraba Management (Private) Limited, managers of First IBL Modaraba (FIBLM), in its board meeting held today, Friday December 07, 2012 at 10:30 a.m. at Principal Office of First IBL Modaraba, 87- Aurangzeb Block, New Garden Town, Lahore recommended as the following:

Cash Dividend                                 – Nil –

Bonus Certificates                            – Nil –

Right Certificates                            – Nil –

Any Other Entitlement/ Corporate Action       – Nil –

Any Other Price-Sensitive Information

The financial results of First IBL Modaraba are enclosed herewith

The Annual Review Meeting (ARM) of the Modaraba will be held on December 31, 2012 at 10:00 a.m. at Auditorium of NBFI and Modaraba Association of Pakistan, 602, 6th Floor, Progressive Centre, 30-A, Block- 6, P.E.C.H.S., Shahrah-e-Faisal, Karachi.

The Shares Transfer Books of the Company will be closed from December 25, 2012 to December 31, 2012 (both days inclusive). Transfers received at the office of Shares Registrar, M/S Technology Trade (Private) Limited, 241-C, Block-2, P.E.C.H.S., Off: Shahrah-e-Quaideen, Karachi at the close of business on December 24, 2012 will be treated in time for the purpose of above entitlement to the transferees.

Profit and Loss Account for the Year Ended June 30, 2012

2012

2011

Rupees

Rupees

Restated

Income
Profit on musharaka financing

935,464

35,838,885

Income from Ijarah financing

2,899,015

8,729,639

Profit on murabaha financing

4,025,004

3,847,764

Return on investments

38,950

193,863

Other income

938,367

2,965,495

———-

———-

8,836,830

49,575,646

Expenses
Administrative and general expenses

12,687,091

15,157,847

Amortization on assets subject to Ijarah

5,762,332

5,191,464

Amortization on Intangible Assets

247,500

Unrealized (Gain)/ loss on re-measurement of Investments
at fair value through profit or loss’

(50,126)

3,329

Realized loss on sale of Investments

898,869

Provision against non-performing Musharaka receivables

26,017,137

14,311,552

Profit Receivable on Musharaka receivables held in suspense account

1,763,126

11,791,459

Finance cost

1,984,376

13,310,002

———-

———-

49,310,305

59,765,653

Operating Profit/ (Loss)

(40,473,475)

(10,190,007)

Management fee

———-

———-

Provision for workers’ welfare fund
Profit/ (loss) before taxation

(40,473,475)

(10,190,007)

Taxation

———-

———-

Profit/ (loss) after taxation

(40,473,475)

(10,190,007)

———-

———-

Earning/ (loss) per certificate basic/ diluted

(2.00)

(0.50)

For more information, contact:
M. Sohail A. Sheikh
Company Secretary
First IBL Modaraba
Principle Office: 43/1,
FCC Gulberg, Lahore, Pakistan
Ph: (+92) 42 3577 8025-7
Fax: (+92) 42 3577 8024
E-mail: info@firstibl.com
Web: www.firstibl.com

Previous
Next

Leave a Reply