⚡ Flash Summary

First Paramount Modaraba (FPM) reported its unaudited financial results for the quarter ended September 30, 2025. The company’s profit after taxation decreased slightly to PKR 6.23 million compared to PKR 6.33 million in the same period last year. Earnings per certificate also saw a minor decrease from PKR 0.46 to PKR 0.45. No cash dividend, bonus, or right shares were declared for the period.

📌 Key Takeaways

• 📉 Profit after taxation decreased slightly to PKR 6.23 million from PKR 6.33 million year-over-year.
• 📉 Earnings per certificate declined to PKR 0.45 from PKR 0.46 in the prior year.
• ❌ No cash dividend was declared for the quarter ended September 30, 2025.
• ❌ No bonus shares were announced.
• ❌ No right shares were offered to certificate holders.
• 💰 Operating income decreased marginally to PKR 141.71 million from PKR 143.29 million year-over-year.
• 💸 Financial charges decreased from PKR 5.65 million to PKR 4.12 million YoY.
• 📊 Total Equity and Liabilities increased to PKR 523.76 million from PKR 509.28 million since June 30, 2025.
• 💵 Cash and bank balances increased to PKR 18.80 million from PKR 18.21 million since June 30, 2025.
• 📜 The company’s authorized certificate capital remains at PKR 400 million.

🎯 Investment Thesis

HOLD. Given the slight decrease in profitability and no dividend announcement, a HOLD recommendation is appropriate. The company’s overall financial position remains relatively stable, but investors should monitor future performance closely. Further analysis and comparison with sector peers are needed to make a more definitive investment decision.