⚡ Flash Summary
First Al Noor Modaraba’s unaudited financial results for the quarter ended September 30, 2025, reveal a notable turnaround compared to the same period last year. The company reported a profit after taxation of Rs 7.65 million, a stark contrast to the loss of Rs 6.92 million in 2024. This positive shift is driven by a substantial increase in gain from trading operations and income from investments, offsetting higher administrative expenses. The earnings per certificate also improved significantly, reaching Rs 0.33 compared to a loss of Rs 0.30 in the previous year.
📌 Key Takeaways
- ✅ Profit after taxation reached Rs 7.65 million, a significant turnaround from a loss of Rs 6.92 million in 2024.
- 📈 Earnings per certificate improved to Rs 0.33, compared to a loss of Rs 0.30 in the previous year.
- 💰 Gain from trading operations surged to Rs 10.97 million, a sharp contrast from a loss of Rs 3.75 million in 2024.
- 💸 Income from investments increased to Rs 7.14 million from Rs 5.32 million in 2024.
- 🏢 Administrative and operating expenses slightly increased to Rs 6.71 million from Rs 6.42 million in 2024.
- 🏦 Operating profit stood at Rs 11.74 million, a significant improvement from a loss of Rs 3.78 million in 2024.
- 📊 Unrealized gain on re-measurement of investments was Rs 1.05 million, compared to a loss of Rs 2.47 million in 2024.
- 🧾 Profit before taxation was Rs 10.68 million, a substantial recovery from a loss of Rs 6.68 million in 2024.
- 🏦 Total assets increased to Rs 288.35 million from Rs 275.02 million in June 2025.
- 🏦 Cash and bank balances increased to Rs 199.30 million from Rs 133.92 million in June 2025.
- ✔️ Total comprehensive income stood at Rs 9.34 million compared to a loss of Rs 6.80 million in 2024.
- Liabilities Increased to Rs 19.04 million compared to Rs 16.73 million in June 2025.
- ✔️ Cash generated from operating activities amounted to Rs 8.39 million compared to cash used in operating activities amounting to Rs 2.31 million in 2024.
- ✔️ Net increase in cash and cash equivalents amounted to Rs 71.29 million compared to Rs 6.37 million in 2024.
🎯 Investment Thesis
BUY. First Al Noor Modaraba’s strong financial recovery, driven by improved trading operations and investment income, presents a compelling investment opportunity. The company’s focus on efficiency and growth positions it for continued success. The target price will be increased by 10% with a time horizon of one year.
Disclaimer: AI-generated analysis. Not financial advice.