Karachi: First Imrooz Modaraba has reported a notable decrease in its financial performance for the first quarter ending September 30, 2025. The Board of Directors of the Modaraba Management Company approved the un-audited financial statements during a meeting held on October 28, 2025, at their Karachi headquarters.
The company reported a net loss of Rs. 2,185,402 for the quarter, a stark contrast to the profit of Rs. 29,162,353 recorded in the same period last year. This decline in profitability is attributed to a significant drop in sales, which decreased from Rs. 308,119,409 in the first quarter of 2024 to Rs. 252,402,160 in 2025. This represents a very large move of 18.06%.
According to information available from the Pakistan Stock Exchange (PSX), the company’s cost of sales also decreased, albeit at a slower pace, from Rs. 233,434,820 to Rs. 202,289,437, reflecting a very large move of 13.34%. The gross profit subsequently fell to Rs. 50,112,723 from Rs. 74,684,589, marking a very large move of 32.90%.
Operating expenses increased to Rs. 32,996,763 from Rs. 26,193,162, a big move of 25.95%, further impacting the operating profit, which declined to Rs. 17,115,961 from Rs. 48,491,427, a very large move of 64.70%. Financial charges also saw a decrease, reaching Rs. 5,703,391 from Rs. 8,078,033, a big move of 29.39%.
The company’s total assets as of September 30, 2025, stood at Rs. 664,357,192, down from Rs. 678,837,462 as of June 30, 2025. This decrease was reflected in both current and non-current assets. The equity and liabilities also saw a reduction, with total equity and liabilities amounting to Rs. 664,357,192.
In terms of equity, the revenue reserve decreased significantly from Rs. 123,570,792 to Rs. 76,385,390, a very large move of 38.18%. The issued, subscribed, and paid-up certificate capital remained unchanged at Rs. 30,000,000.
The financial results reflect the current economic conditions and challenges faced by the company. The decline in revenue and profitability underscores the need for strategic adjustments to navigate the changing market dynamics effectively.