FPM/CORP/2025/ -/ ' '/ '
September 30, 2025
The General Manager
Pakistan Stock Exchange Limixed Karachi,
Dear Sir,
FINANCIAL RESU1TS FOR THE HALF YEAR ENDED 3UNE 30. 2025
We have to inform you that the Board of Directors of M/s. Punjab Modaraba Services (Private) Limited, Management Company of First Punjab Modaraba, in its board meeting held on September 30, 2025 at 10:30 a.m., at the Registered Office at Office No. 100, 3rd Floor, National Tower, 28-Egerton Rod, Lahore, approved accounts for the Half Year ended June 30, 2025 and recommended as the followina :
Cash Dividend Bonus Certificates Right Certificates
Any Other EnLiLlemenr/ Corporate Action Any Other Price- Sensitive Information
NIL NIL NIL NIL NIL
The FinanciaI Statements af the First Punjab Modaraba for the Half Year ended June 30, 2025 will be transmitted through PUCARS separately, within the specified time.
The financial results of First Punjab Nlodaraba are enclosed herewith.
Thanking you.
Yours truly,
Muhammad Ilya
Company Secretary
FIRST PUNJAB MODARABA
169,353,571 | 185,227,848 |
3,639,003 | 3,571,658 |
58,394 | 388,332 |
587,332,059 | 690,449,778 |
5,904,424 | 6,927,036 |
l,422,49d | 1,422,494 |
99,239,022 | 94,239,022 |
CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION (UN-AUDITED) AS AT JUNE 30, 2025
3une 30, 2015 | December 31, 2024 | |
Note ASsETs Non Current Assets | (Un-audited) Rupees | {Audited) Rupees |
Fixed assets under ijarah arrangement 6 | ||
Fixed assets under own use 7 | ||
Inmngible assets | ||
Long-term investment under musharakah arrangement 8 | ||
Long-term investmenE under murabahah arrangement 9 | ||
Long term deposits | ||
Deferred tax asset | ||
Current Assets | 861,948,967 | 982,226,168 |
Short-term investment under murabahah arrangement 10 | ||
Current portion of non-current assets 11 | ||
Ijarah rental5 receivable 12 | ||
Short term investment | ||
Development properties | ||
Advances, deposits, prepayments and oper receivables | ||
Income tax refundable firom the Government | ||
Cash and bank balances | ||
Total asset | 1,437,277,945 | 993,351,B88 |
2,299,226 91Z | 1,975,57B 056 | |
EQUITY AND LIABILITIES Ce@ficate Capital and Reserves hutfioAzeâ certificate capital 50,000,000 (December 3t, 2024: 50,000,000) modaraba certificates of RS. 10 each | 600,000,000 | 500,000,000 |
124,852,085 | 136,052,103 |
436,132,016 | 430,279,088 |
59,578,209 | 76,994,055 |
10,000,000 | 109,816,SOB |
t6,068,855 | 25,290,372 |
145,112,228 | 159,79B,809 |
32,481,927 | 32,0d0,853 |
6t3,052,625 | 23,080,t00 |
Issued, subscribed and paid up certificate capital
34,020,000 (December 31, 2024: 3R,020,000) modaraba certificates of Rs. t0 each Capital reserves
Revenue reserves - accumulated losses
Subordinated funds I5
Ceztsficate Holders' Equity hon Current Liabilities
Redeemable capital 16
Long term security depo iiLs 17
Deferred murabahah income
Current liabilities
Current portion of non current liabilities lB
Accrued ñnance cost Trade and other payables Provison for levies Undaimed dividends
Contingencies and Commitments I9
The annexed notes from 1 to 8 form an integral part of these financial statements.
For Pu "ab Modaraba rices (Private Limit
(Modaraba n ement Co pp@
340,200,000 | 3T0,200,000 |
218,176,678 | |
2t8,176,678 | |
(954,350,342) | (8S0,373,686) |
2,500,000,000 | 500,000,000 |
2,104,026,336 208,002,992
1,485,000,000 | |
18,026,827 | 8,547,016 |
2,384,082 | 1,617,760 |
8,271,066 | 7,593,368 |
28,681,975 SS02,758,IV
34,358,t02 | 45,210,018 |
9,l7S,911 | 103,723,983 |
94,211,954 | 89,030,8R7 |
11,657,726 | 9,73B,032 |
37,llR,908 | l7,1S4,O40 |
166,518,60d 264,8t6,920
2,299,226,912 1 975 578 056
MGE NANCIAL OFFICER
CHIEF EXECU OFFICER
DZRECTOR D1RECTOft
FIRST PUNJAB MODARABACONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UN-AUDITED) FOR THE HALF YEAR AND QUARTER ENDED JUNE 30, 2025
Page 2 of JR
Half Year Ended 3une 30,
Quarter Ended 3une 3o,
2025 2024 2025 2024
Note
---------------(Un-audited}---------------
Zncome from Operations | Rupees | Rupees | Rupees | Rupees | |
Income from ijarah rentals - net 20 | 17,770,598 | 42,8S1,S67 | 10,P6,097 | 16,233,688 | |
Profit on murabahah financing | 849,38t | 6,32t,465 | 76,016 | 1,097,259 | |
Prol°it on diminishing musharakah financing | 98,971,861 | 104,237,768 | R8,400,37B | 56,547,437 | |
Gain on sale of development properties | 778,483 | t35,3 t9 | - | ||
118,370,323 | t52,910,800 | 58,957,8t0 | 73,878,384 | ||
other yncome | |||||
Reversal of provision against ijarah rentals | 177,721 | 1,037,693 | t72,56d | 950,393 | |
Other income 21 | 12,544,466 | 75,226,929 | (270,547j | 40,731,187 | |
12,722,187 | 76,26d,622 | (97,983) | 41,681,580 | ||
Total Income | 131,092,510 | 229,175,422 | 58,8s9,B27 | 115,559,964 | |
Expenses | |||||
Administrative and general expenses 22 | |||||
Finance cost 23 | |||||
Provision / (reversal) of provision against musharakah arrangement | |||||
Provision against murabahah arrangement | |||||
Reversal of provision against other receivables | |||||
233,1R9,472 | 214,655,841 | 113,126,672 | t05,228,338 | ||
Operating (Loss} / Profit before IManagement Company's Fee | (102,056,962) | 14,519,58d | (54,266,B45) | 10,33T,626 | |
Nodaraba management company's management fee | |||||
(Loss) / Profit berore Levy and Taxation | (102,056,962] | 1R,519,58t | (51,266,845) | 10,331,626 | |
Levy / final taxation | (1,919,69 ) | (2,107,562) | (1,194,744] | (952,364) | |
{Loss) / Profit before Taxation | (103,976,656) | 12,412,019 | (55,46T,589] | 9,379,262 | |
Taxation | Z,258,504 | 14,444,193 | 2,258,504 | ||
Set {Laser / Profit for the Period | (103,976,656) | 14,670,523 | (41,017,396) | 11,637,766 | |
{Loss} / Earnings per Certificate - Ba8iC and Diluted | (3.06) | 0.43 | (1.21) | 0.34 |
42,978,534 | 37,66d,74E | 26,978,700 | 19,981,745 |
182,749,7t7 | T8R,283,682 | 9t,@9,425 | 92,159,263 |
7,421,221 | 1,244,B86 | (9,306,833) | 1,624,798 |
3,805,380 | |||
(8,537,468) | (8,537,468) |
The annexed notes from 1 to 28 form an integral part of these financial statement.
ror Punjab Nodaraba 8ervicec {Private) Limited
(Nodaraba Nanagement Company)
CHIEF ANCMLOFEICER
CHIEF EXECU OFFICER
D ECTOR
DIRECTOR
FIRST PUNJAB MODARABA
CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED) FOR THE HALF YEAR AND QUARTER ENDED JUNE 30, 2025
Half Year Ended 3une 30,
Quarter Ended 3une 30,
2025 2024 2025 2024
Rupees
--••-----------Un-audited)---------------
Rupees Rupees Rupees
ket (Loss) / Profit for the Period
Ottier comprehensive income
Total Comprehensive (Loss) / Income for the Period
(103,976,656) 14,670,523 (R1,017,396} 11,637,766
(103,976,656) 14,670,523 (41,017,396) 11,637,766
The annexed notes from 1 to 28 form an integral part of these financial statements.
for Punjab I'4odaraba Sezwices t rivate} Limited
(Nodaraba Nanagement Company)
DIRECTOR
OFFICER
CN1 EXECU
CH¥EFCNANCIAL OFFICER DIRECTOR
FIRST PUNJAB MODARABA
Particulars | Subscribed and Paid up Capital | Reserves | Subordinated funds | Total | ||
Capital | Revenue | Total Reserves | ||||
Statutory Reserve | Accumulated Loss | |||||
CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED) FOR THE HALF YEAR ENDED JUNE 30. 2025
Balance as at December 31, 2023 | Rupees 3R0,200,000 | Rupees 218,176,678 | Rupees (680,257,522) | (462,080,844) | Rupees 500,000,000 | Rupees 378,119,156 | |
Net profit for the period Other comprehensive income for the period | 1R,670,523 | 14,b70,523 | 14,670,523 | ||||
Total comprehensive income tar the period | - | 14,670,523 | 2J,670,523 | 14,670,523 | |||
Balance as at 3une 30, 2024 {un-audited) | 340,200,000 | 218,176,678 | (665,586,999) | (497,410,321) | 500,000,000 | 392,789,679 | |
Balance as at December 31, 2024 | 3R0,200,000 | 218,176,678 | (850,373,686) | (632,197,008) | 500,000,000 | 208,002,992 | |
Net loss for the period | (103,976,656) | (103,976,656) | (103,976,656] | ||||
Other comprehensive loss for the period | |||||||
Total comprehensive loss for the period | - | (103,976,656) | (103,976,656) | (103,976,656) | |||
Subordinated funds received | 2,000,000,000 | 2,000,000,OOO | |||||
Balance as at 3une 30, 2035 (un-audited} | 340,200,000 | 218,176,678 | (9W,350,342) | (736,173,66) | 2,500,000,000 | 2,104,026,336 |
The annexed notes from I to 28 form an integral part of these financial satements.
For Punjab Modaraba Sezvice•t• •a § Lim
(ñ4odaraba Management Compa )
E EXEC
E OF I ER
CHIEF ANCIAL OFFICER
DIRECTOR DIRECTOR
FIRST PUNJAB MODARABA
CONDENSED INTERIM STATEMENT OF CASH FLOWS (UN-AUDITED) FOR THE HALF YEAR ENDED JUNE 30, 2025
Pac[e S oT IS
Cash Generated from Operations
Profit paid on redeemable capital and Subordinated funds Bank charges paid
Employees retirement benefits paid
Levyl final taxation paid
Note
Half Year Ended 3une 30
202s 2014
24
23
23
Rupees Rupees
261,530,24S 68,402,210
Net Cash Used in Operating Activities
CASH FLOWS FROI•I INVESTING ACTIVITIES
Proceeds from transfer of ijarah assets
Proceeds from security deposit on new ijarah facility Purchase of fixed assets under ijarah arrangements Purchase of fixed asseD under own use
Proceeds from disposal of fixed assets under own use Profit received on bank deposit
Short term investments
Net Cash Generated from / (Used in} Investing Activities
CASH FLOWS FROM FINANCING ACIIVIIIE$
Subordinated funds received Redeemable capital paid Reversal of unc!aimed dividend Unclaimed dividend paid
Net Cash Generated from / (Used in) Financing Activides Net Increase / {Decrease) in Cash and Cash Equivalents Cash and cash equivalent at the beginning of the period
(279,122,209)
t277,281,3R8 | ) (t85,722,699) |
t+6,V} | t85,47t) |
(546,996) | |
(t,277,424§ | (8,195,678) |
(t7,59t,96 )
6,021,692 | 67,237,786 | ||
4,450,580 | (43,008,579) | ||
(21,635,950) | (1.08,21.2,928) | ||
t754,t89 | ) | (t41,500) 22,329 | |
2,229,634 | 53,7t1,41R | ||
102,251,854 | (37,297,905) |
6
92,563,621
2,000,000,000 | |
(1,485,000,000) | |
1,368 | |
(500) | (59,954§ |
15
16
515,000,868
589,972,525
23,080,100
t! R,003,8R8)
(125,601,638)
t67,689,383)
(59,954)
(t93,350,975]
233,56,957
Cash and Cash Equivalent at the End of the Period
The annexed notes from 1 to 28 form an integral part of these financial statement.
613,052,625 40,t93,982
For Punjab Modaraba Services (Private) Limi d (Nodaraba Nanagement Company)
NCtAL OFFICER
CHtC
CHtE EXECUTIVE FICER
DIRECTOR
DIRECTOR