Karachi: The First Elite Capital Modaraba has announced its financial results for the fiscal year ending June 30, 2026, revealing a net loss of Rs.7.03 million. This marks a downturn from the previous year's profit of Rs.4.69 million, according to the annual report released by the Crescent Modaraba Management Company Limited.

The Modaraba's total income for the year decreased to Rs.46.79 million, down from Rs.52.32 million in the prior year. This decline in income, coupled with rising expenses, contributed to the financial loss reported. Administrative and general expenses increased to Rs.20.25 million from Rs.19.17 million, reflecting a moderate move in the cost structure. Additionally, the depreciation of assets leased out rose to Rs.31.28 million compared to Rs.26.39 million in the preceding year.

According to information available from the Pakistan Stock Exchange (PSX), the financial charges experienced a minor move, decreasing slightly to Rs.14,861 from Rs.16,147. Meanwhile, a fair value loss on investments was recorded at Rs.651,222, contributing further to the negative financial outcome.

Despite the loss, the Modaraba's total assets saw a slight increase to Rs.236.36 million as of June 30, 2026, up from Rs.232.35 million a year earlier. The net assets remained relatively stable at Rs.136.82 million, while total liabilities increased to Rs.99.54 million from Rs.95.65 million.

Reflecting on these results, the Board of Directors decided not to recommend any profit distribution for the year. Nonetheless, they expressed a commitment to strengthening the Modaraba's financial position and enhancing the performance of its investment and financing portfolio.

As the financial sector navigates the current economic environment, the Management Company plans to focus on the efficient deployment of funds, prudent risk management, and cost control to generate sustainable returns in future operations.