Karachi: LSE SPAC-I Limited, a special purpose acquisition company, has released its financial results for the year ending June 30, 2026, revealing substantial changes in its financial position compared to the previous fiscal year. The report, dated October 5, 2026, highlights significant developments in both assets and liabilities, alongside a marked increase in operating expenses.

The company reported total assets of 230.32 million rupees as of June 30, 2026, a significant increase from 9.60 million rupees at the same time last year. This growth was primarily driven by a 230 million rupees investment classified under current assets. Moreover, the company's accrued income saw a decline, falling to 5,406 rupees from 54,866 rupees. Meanwhile, tax refunds due from the government increased to 128,582 rupees from 13,137 rupees, despite cash and bank balances decreasing to 187,902 rupees from 9.54 million rupees.

Equity and liabilities also experienced considerable changes. The authorized share capital increased from 10 million rupees to 300 million rupees, and the issued, subscribed, and paid-up share capital rose from 10 million rupees to 260 million rupees. Conversely, accumulated losses expanded to 30.05 million rupees from 445,749 rupees, severely impacting the overall revenue reserves. Current liabilities also grew, with accrued and other payables reaching 375,731 rupees from 50,000 rupees, indicating a need for closer financial management.

According to information available from the Pakistan Stock Exchange (PSX), LSE SPAC-I Limited's financial results illustrate a pronounced shift in its operating dynamics over the past year. The company faced a challenging year, with operating expenses soaring to 30.15 million rupees from 599,210 rupees. Consequently, the company registered an operating loss of 30.15 million rupees compared to a loss of 599,210 rupees in the previous year. Other income increased to 557,184 rupees from 155,404 rupees, while finance costs were recorded at 2,923 rupees, a new expense category this year.

The company's profit or loss before levy and taxation stood at a negative 29.60 million rupees, down from a loss of 443,806 rupees. After accounting for a levy of 6,965 rupees, the profit or loss before taxation was a negative 29.61 million rupees, compared to a loss of 445,749 rupees previously. With no taxation recorded for both years, the loss for the year was 29.61 million rupees, a very large or significant move from the previous year's loss of 445,749 rupees. The earnings per share dropped to a negative 6.04 rupees from a negative 1.43 rupees.

This financial report places LSE SPAC-I Limited in a challenging position as it navigates significant financial adjustments and rising liabilities. The company's fiscal strategy and investment effectiveness will likely be scrutinized by stakeholders and market analysts as it moves forward.