Lahore: In a notice dated December 15, 2025, First IBL Modaraba (FIBLM) has announced that its Annual Review Meeting (ARM) will be held on December 30, 2025, at 11:00 a.m. at its principal office located in Gulberg-III, Lahore. The meeting will focus on reviewing the financial performance for the fiscal year that ended on June 30, 2025. Certificate holders eligible to attend are those registered by the close of business on December 23, 2025, as the certificate transfer books are scheduled to close from December 24 to December 30, inclusive.
The Chairman’s Review Report presented a positive outlook, underscoring a strong financial performance in the fiscal year 2024-25. Despite facing challenges such as a difficult interest rate environment, First IBL Modaraba reported a more than twofold increase in profit after tax. This improvement was attributed to higher operating income, rigorous cost management, and favorable tax circumstances, signaling the success of their strategic initiatives.
According to the financial summary, First IBL Modaraba's total income increased by 4.5% to Rs. 54.45 million from Rs. 52.10 million. A significant contributor to this growth was Ijarah income, which surged by 26% to Rs. 19.63 million, reflecting the expansion of Ijarah assets. Total expenses showed a minor move, remaining stable at Rs. 28.16 million, while operating expenses declined by 24% to Rs. 12.85 million, demonstrating improved cost efficiency.
The asset base of First IBL Modaraba experienced a 10.5% increase, reaching Rs. 273.84 million, driven largely by enhanced cash reserves and an increase in long-term earning assets. Current assets rose notably by 15.1% to Rs. 210.03 million, with cash balances escalating by 71% to Rs. 182.03 million, highlighting a robust liquidity position. Equity increased by a big move of 12.7% to Rs. 244.20 million, with a significant reduction in accumulated losses, from Rs. (51.59) million to Rs. (30.12) million, and an increase in statutory reserves by Rs. 5.37 million.
According to information available from the Pakistan Stock Exchange (PSX), these figures underscore First IBL Modaraba’s resilient business model and effective management strategies, strengthening its commitment to sustainable growth within its core leasing operations.
The Directors' Report echoed the sentiments of the Chairman’s Review, emphasizing the Modaraba's notable improvement in financial health and sustainability. The strategic realignment and prudent financial management have led to a significant rise in net profitability, despite the challenging economic landscape.
The upcoming Annual Review Meeting will provide an opportunity for certificate holders to discuss these positive developments and review the strategic direction of First IBL Modaraba. The management is optimistic about continuing this trajectory of growth and value creation for its stakeholders.