Karachi: Wasl Modaraba Management Limited has released its financial results for the year ended June 30, 2026, revealing a strategic shift in asset allocation and a notable change in income dynamics. According to the company's financial statements, total assets increased to 1.21 billion rupees from 1.10 billion rupees in the previous fiscal year, reflecting growth in several key areas.
The significant rise in non-current assets, which reached 795.95 million rupees, was primarily driven by an increase in property, plant, and equipment - ijarah, which climbed to 483.48 million rupees from 258.09 million rupees. This expansion underscores a strategic investment in lease-based assets. Deferred tax assets also saw a substantial increase, reaching 62.18 million rupees from 2.63 million rupees, which contributed to the overall growth in non-current assets.
Current assets, however, experienced a minor decrease, settling at 410.98 million rupees compared to 472.29 million rupees in the previous year. Noteworthy among these changes is the decline in bank balances, which decreased to 70.55 million rupees from 161.24 million rupees. This reduction was slightly offset by an increase in short-term investments, which rose to 35.37 million rupees from 14.26 million rupees.
The financial outcome saw a shift in income sources. Ijarah rentals earned surged to 275.96 million rupees from 31.15 million rupees, marking a very large or significant move. The income from deposits with banks, however, decreased significantly to 3.70 million rupees from 28.29 million rupees. Overall, total income increased to 334.48 million rupees from 150.37 million rupees, driven by gains on investments and other income streams. According to information available from the Pakistan Stock Exchange (PSX), the results reflect strategic adjustments in financial management and asset allocation.
On the liabilities side, non-current liabilities decreased to 68.99 million rupees from 83.57 million rupees, and current liabilities saw a reduction to 225.95 million rupees from 266.86 million rupees. The decline in short-term finance, which was eliminated from 150.00 million rupees, contributed to the decrease in current liabilities.
Despite these strategic shifts and investments, the company reported a loss before taxation and levy of 39.53 million rupees, contrasting with a profit of 39.06 million rupees in the previous year. After accounting for taxation, which provided a positive impact of 61.12 million rupees compared to a negative 8.18 million rupees last year, the income after taxation stood at 16.10 million rupees, down from 30.31 million rupees, indicating a moderate move.
Earnings per certificate, both basic and diluted, were reported at 0.12 rupees, down from the restated 0.23 rupees in the prior year, reflecting the overall financial performance of the company for the fiscal year 2026.