Karachi: First Equity Modaraba, a key player in the designated market category, announced its financial outcomes for the year ending June 30, 2026. The financial report, dated October 7, 2026, revealed notable changes in the company's financial position, with mixed performance across various metrics.

The unconsolidated statement of financial position highlighted a total asset value of 671.93 million rupees, reflecting a minor move of 1.01% from the previous year's total of 665.20 million rupees. This increase was driven by a rise in current assets, which saw a very large move of 22.05%, reaching 288.54 million rupees, up from 236.44 million rupees in 2025. However, non-current assets experienced a big move decrease of 10.58%, totaling 383.39 million rupees compared to 428.76 million rupees the previous year.

The company's income statement presented a significant downturn with a loss after tax of 11.83 million rupees, contrasting sharply with the profit of 46.09 million rupees reported in 2025. This change was largely attributed to an impairment loss of 56.99 million rupees, a new entry in this fiscal year. Operating expenses were moderately stable, showing a minor increase to 29.23 million rupees from 29.04 million rupees.

According to information available from the Pakistan Stock Exchange (PSX), First Equity Modaraba's short-term investments surged significantly by 34.75%, amounting to 165.00 million rupees, up from 122.41 million rupees in the previous year. In contrast, the company's other receivables decreased significantly, recording a reduction to 48.35 million rupees from 66.00 million rupees, indicating a substantial drop of 26.75%.

Despite a decrease in the operating loss, which stood at 43.94 million rupees compared to 7.56 million rupees in 2025, other income dropped to 34.55 million rupees from 54.54 million rupees, marking a very large decrease. The financial charges also increased to 19,922 rupees, a shift from 6,345 rupees in the prior year.

The basic and diluted loss per certificate for the year ended June 30, 2026, was reported at 0.23 rupees, a reversal from the earnings per certificate of 0.88 rupees in 2025. This decline underscores the financial challenges encountered by First Equity Modaraba over the past year.