Karachi: First Al-Noor Modaraba has announced its financial results for the year ended June 30, 2026, revealing a significant downturn in its profitability. The results, reported on August 31, 2026, indicate a net loss after taxation of Rs. 2,799,713, a notable decline from the profit of Rs. 2,413,070 recorded in the previous year.

The company's total assets marginally decreased to Rs. 274.58 million from Rs. 275.10 million in 2025. Current assets fell from Rs. 252.01 million to Rs. 231.25 million, with cash and bank balances plunging from Rs. 133.92 million to Rs. 69.96 million. Conversely, stock in trade rose to Rs. 105.82 million from Rs. 68.26 million, reflecting a potential shift in asset allocation or operational focus.

In terms of liabilities, First Al-Noor Modaraba's total liabilities increased to Rs. 18.38 million from Rs. 16.81 million. Notably, non-current liabilities, primarily attributable to deferred staff gratuity, rose to Rs. 9.90 million from Rs. 7.48 million.

A significant factor contributing to the financial downturn was a decline in income from investments, which fell to Rs. 16.76 million from Rs. 25.65 million, contributing to a reduction in total net revenue to Rs. 35.14 million from Rs. 43.66 million. Administrative and operating expenses slightly increased to Rs. 37.72 million from Rs. 36.50 million, further impacting the bottom line.

According to information available from the Pakistan Stock Exchange (PSX), the company's issued, subscribed, and paid-up certificate capital remained unchanged at Rs. 231.00 million, while its revenue reserves worsened from a deficit of Rs. 49.83 million to Rs. 53.07 million. The surplus on revaluation of investments turned positive, reaching Rs. 416,505 from a deficit of Rs. 729,254, indicating some recovery in investment valuations.

The loss per certificate also reflected the challenging financial year, registering at Rs. 0.12, down from an earnings per certificate of Rs. 0.10 in the previous year. Despite these setbacks, the company managed to increase its share of profit from an associate to Rs. 514,179 from Rs. 155,307, showing potential areas of resilience.

As First Al-Noor Modaraba navigates these turbulent financial waters, stakeholders will be keenly observing the company's strategic adjustments and market responses in the upcoming fiscal year.