Karachi: The Board of Directors of First Imrooz Modaraba convened on February 25, 2026, at their Karachi office, Beaumont Plaza, to approve the financial statements for the half-year period ending December 31, 2025. The financial results reveal significant insights into the Modaraba’s performance over the last six months.

According to the condensed interim statement of profit or loss and other comprehensive income, sales for the half year amounted to 586.63 million rupees, an increase from the previous year's 564.92 million rupees. The cost of sales also rose to 473.95 million rupees from 413.68 million rupees, resulting in a gross profit of 112.68 million rupees compared to 151.23 million rupees in the same period last year, marking a very large decrease.

Operating expenses for the period were recorded at 65.84 million rupees, slightly rising from the previous year's 62.03 million rupees. Consequently, the operating profit saw a significant decline to 46.84 million rupees from 89.19 million rupees.

The financial charges during the period were 11.12 million rupees, down from 14.11 million rupees, while other income increased to 2.94 million rupees from 2.15 million rupees. This contributed to a profit before levy and income tax of 38.66 million rupees, compared to 75.69 million rupees in the corresponding period of 2024.

The levy applied was 31.36 million rupees, compared to 22.92 million rupees last year, leading to a profit before income tax of 7.30 million rupees, a big move down from the previous year's 52.77 million rupees. The net profit for the half-year stood at 7.30 million rupees, significantly down from 52.77 million rupees in the previous year, resulting in earnings per certificate of 2.43 rupees, compared to 17.59 rupees last year.

According to information available from the Pakistan Stock Exchange (PSX), the financial statements have been prepared in compliance with PSX Notice No. PSX/N-062 dated January 10, 2025. Furthermore, consistent with PSX Notice No. PSX/N-5036 dated September 3, 2018, the soft copy of these accounts will be available electronically through the PSX web portal, PUCARS.

The outcome of this financial period highlights a very large decrease in profit, with the Modaraba facing increased operating costs and levies, despite a moderate rise in sales. The detailed financial statements, including those of changes in equity and cash flows, are available for further scrutiny.