Lahore: The Board of Directors of Crescent Modaraba Management Company Limited, the managing body for First Elite Capital Modaraba, has released the unaudited financial statements for the nine months ending March 31, 2025. The financial report reveals a reduction in losses, with the Modaraba recording a loss of Rs.949,274 compared to a loss of Rs.3,125,565 in the same period last year. This marks a decrease in losses by Rs.2,176,291.

The Modaraba's gross revenue for the period was reported at Rs.33.26 million. The primary sources of this revenue were Ijarah/lease agreements, gains and dividends from investments in listed securities, and dividends from investments in mutual funds. Despite the improvement, the loss per certificate remained at Re.0.08.

In a strategic move to diversify its business portfolio, the management of the Modaraba has initiated a calf fattening business. It is anticipated that this new venture will enhance returns in future financial periods.

According to information available from the Pakistan Stock Exchange (PSX), there have been legal developments involving the Modaraba. Ansari Brothers (Private) Limited has filed a civil suit against Crescent Modaraba Management Company Limited, seeking the specific performance of an alleged agreement with one of the company's shareholders.

The Board expressed gratitude towards the regulatory authorities for their support and guidance, and acknowledged the commitment of its staff for their contributions to the company's operations.