Karachi: The Board of Directors of M/s IBL Modaraba Management (Private) Limited presented the un-audited quarterly results for First IBL Modaraba, detailing a mixed performance amid economic challenges. The report, dated October 28, 2026, highlighted the financial outcomes for the quarter ending September 30, 2026.

Pakistan's economy showcased mixed signals in the first quarter of FY 2026-27, with inflation peaking at 11.1% in August before easing to 10.3% by September. Despite encouraging growth in industrial activity and exports, the current account recorded a cumulative deficit of approximately $874 million during July-September 2026. This deficit was attributed to a widening trade gap and increased import payments. Fiscal discipline and sustainable foreign-exchange earnings were emphasized as vital for economic stability.

First IBL Modaraba reported a total income of Rs. 7.621 million for the quarter, a decrease from Rs. 13.051 million in the corresponding quarter of the previous year. The decline was primarily due to reduced income from Ijarah and Musharaka investments, although there was an increase in profit from bank deposits. The net profit for the quarter was Rs. 3.777 million, down from Rs. 7.447 million in the same period last year. Administrative expenses were reduced, reflecting decreased operating costs.

According to information available from the Pakistan Stock Exchange (PSX), the total assets of the Modaraba reached Rs. 285.751 million by September 30, 2026, up from Rs. 280.231 million as of June 30, 2026, indicating continued balance sheet growth. Total liabilities rose to Rs. 24.129 million from Rs. 22.386 million, aligning with business expansion.

The Board acknowledged the dedication and efforts of the Modaraba's team in driving growth across its operations, despite the challenging environment.