Trust Modaraba : Financial Results for the Quater ended September 30, 2023.

CONDENSED INTERIM BALANCE SHEET (UN-AUDITED)

AS AT SEPTEMBER 30, 2023		(Un-audited)	(Audited)
		September 31, 2023	June 30, 2023
ASSETS	Note	------------------Rupees-----------------
Current assets
Cash and bank balances		10,754,441	7,403,438
Investments	4	15,199,361	23,673,280
Advances, deposits, prepayments and other receivables	5	11,959,672	9,252,174
Murabaha finances - secured	6	32,538,031	33,138,031
Ijarah rental receivables - secured		3,675,838	2,797,830
Current portion of long term murabaha finances	7	47,172,909	54,965,658
Musharakah finances (secured - considered good)	8	17,908,426	16,399,135
Current portion of diminishing musharakah finances	9	21,665,728	15,004,620
Income tax refundable		1,142,558	1,840,370
Assets classified as held for sale		8,625,000	8,625,000
Total current assets		170,641,964	173,099,536
Non-current assets
Murabaha finances		4,251,973	4,078,227
Diminishing musharakah financing	9	81,420,059	62,386,644
Deposits		602,962	602,962
Investments	10	4,477,364	6,271,900
Fixed assets given on lease / ijarah - tangible	11	114,157,131	123,427,562
Fixed assets in own use	12	16,096,939	16,346,263
Intangible asset	13	252,218	155,552
Deferred taxation - net		2,388,431	2,388,431
Total non-current assets		223,647,077	215,657,541
Total assets		394,289,041	388,757,077
EQUITY AND LIABILITIES
LIABILITIES
Current liabilities
Unclaimed profit distributions		12,830,810	12,831,607
Creditors, accrued and other liabilities	14	4,574,596	1,661,255
Current portion of deferred income on murabaha		1,435,836	2,400,180
Current portion of customers' security deposits		13,391,875	8,936,875
Current portion of lease liabilities against right of use assets		944,980	1,083,251
Total current liabilities		33,178,097	26,913,168
Non-current liabilities
Deferred income on murabaha		595,327	1,012,756
Customers' security deposits		34,668,638	39,380,638
Lease liabilities against right of use assets		1,300,123	1,445,518
Total non-current liabilities		36,564,088	41,838,912
Total liabilities		69,742,185	68,752,080
NET ASSETS		324,546,856	320,004,997
REPRESENTED BY
CAPITAL AND RESERVES
Certificate capital		298,000,000	298,000,000
Reserves		32,272,121	28,506,449
Total equity
Unrealized loss on revaluation of investments	15	(5,725,265)	(6,501,452)
		324,546,856	320,004,997
Contingencies and commitments	16

The annexed notes from 1 to 24 form an integral part of these financial statements.

For Al-Zamin Modaraba Management (Private) Limited

(Modaraba Management Company)

CHIEF EXECUTIVE

DIRECTOR

DIRECTOR

CHIEF FINANCIAL OFFICER

TRUST MODARABA Quarterly Report September, 30, 2023

6

CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED) FOR THE QUARTER ENDED SEPTEMBER 30, 2023

		September	September
		2023	2022
	Note	-------------Rupees-------------
Income from ijarah - net	17	3,527,987	4,289,845
Profit on murabaha finances		1,280,441	2,414,508
Profit on musharakah finances		7,853,264	1,787,402
Dividend income on equity investments		230,154	1,701,509
Gain / (Loss) on sale of short-term investments		(5,090,352)	(566,866)
Other income	18	391,616	304,566
		8,193,110	9,930,964
Provision for doubtful receivables		(1,180,395)	-
Unrealized Gain / (loss) on revaluation of held for-sale-trading investment	8,034,226	805,280
Operating expenses	19	(9,033,604)	(9,371,650)
Modaraba Management Company's fee		(601,334)	(136,459)
Workers' Welfare Fund		(108,240)	(24,563)
Profit before taxation		5,303,763	1,203,572
Taxation		(1,538,091)	(118,604)
Profit for the period
Earnings per certificate - basic and diluted	20	0.13	0.04

The annexed notes from 1 to 24 form an integral part of these financial statements.

For Al-Zamin Modaraba Management (Private) Limited

(Modaraba Management Company)

CHIEF EXECUTIVE

DIRECTOR

DIRECTOR

CHIEF FINANCIAL OFFICER

7	TRUST MODARABA Quarterly Report September, 30, 2023