First National Bank Modaraba reported unaudited earnings results for the second quarter and half year ended December 31, 2017. For the quarter, the company reported total income of PKR 26,649,392 compared to PKR 55,068,600 a year ago. Operating profit before provision and taxation was PKR 6,312,095 compared to PKR 7,223,311 a year ago. Loss before taxation was PKR 4,692,832 compared to PKR 16,736,136 a year ago. Loss after taxation was PKR 4,901,462 compared to PKR 16,736,136 a year ago. Basic and diluted loss per certificate was PKR 0.20 compared to PKR 0.67 a year ago.

For the half year, the company reported total income of PKR 49,597,721 compared to PKR 108,857,702 a year ago. Operating profit before provision and taxation was PKR 6,497,374 compared to PKR 9,080,311 a year ago. Profit before taxation was PKR 1,227,220 compared to loss of PKR 30,029,168 a year ago. Profit after taxation was PKR 1,018,590 compared to loss of PKR 30,029,168 a year ago. Basic and diluted earnings per certificate was PKR 0.04 compared to loss per share of PKR 1.20 a year ago.

For the quarter, the company reported impairment loss on ijarah assets of PKR 8,368,237 compared to PKR 3,199,383 a year ago.