Karachi: First IBL Modaraba has disclosed its financial results for the fiscal year ending June 30, 2026, reporting a decrease in profit after taxation, attributed largely to increased taxation expenses. The company's profit after tax fell to 13.88 million rupees from the previous year's 20.28 million rupees, marking a notable decline for the financial entity. This development comes amid a broader assessment of the company's operational dynamics over the last year.
As of the financial year concluded on June 30, 2026, First IBL Modaraba recorded total income from operations at 45.27 million rupees, down from 54.74 million rupees the previous year. The decline was significantly influenced by a reduction in income from ijarah, which decreased to 13.36 million rupees from 19.63 million rupees. Conversely, the profit on musharakah investments increased to 9.83 million rupees from 7.03 million rupees, offering a positive note in the financial overview. Additionally, the company benefited from a reversal of expected credit losses amounting to 666,111 rupees, a factor not present in the prior year's results.
Expenses for the year witnessed a reduction, totaling 20.25 million rupees compared to 28.93 million rupees in 2025. Despite this, the operating profit experienced a moderate move, registering at 25.02 million rupees, slightly decreasing from 25.81 million rupees in the previous year. The company's profit before taxation stood at 22.21 million rupees, a decrease from 23.14 million rupees in the prior period.
According to information available from the Pakistan Stock Exchange (PSX), the comprehensive income for the period experienced a significant move, declining from 22.51 million rupees to 16.61 million rupees. This decline was further compounded by a substantial increase in income tax expenses, which soared to 8.34 million rupees from 2.86 million rupees in the prior year, significantly impacting the net income results.
The company's statement of financial position as of June 30, 2026, illustrates a slight increase in total assets, amounting to 280.23 million rupees, compared to 270.12 million rupees in the preceding year. The certificate capital remained constant at 216.88 million rupees, while the statutory reserve increased to 56.52 million rupees from 53.74 million rupees.
The results reflect a challenging fiscal environment for First IBL Modaraba, with taxation pressures and operational income fluctuations playing key roles in shaping the financial outcomes for the year.