Karachi: Trust Modaraba, a prominent player in the financial services sector, has released its corporate briefing session report for the fiscal year 2025-26, detailing a notable decrease in profitability despite a slight increase in equity and balance sheet footing. The report, dated October 16, 2026, highlighted key performance indicators that reflect the company's financial health over the past year.
The financial data reveals that Trust Modaraba's total income for 2025-26 stood at Rs. 68.2 million, while disbursements amounted to Rs. 135.4 million. The financing portfolio was reported at Rs. 308.9 million, and operating expenses were recorded at Rs. 47.2 million. The company achieved a profit before tax of Rs. 14.9 million, with a profit after tax of Rs. 11.4 million. Earnings per certificate were Rs. 0.38.
Equity rose to Rs. 360 million from Rs. 349 million, marking a minor move of 3.16% in return on equity. The balance sheet footing increased marginally to Rs. 406 million from Rs. 402 million. According to information available from the Pakistan Stock Exchange (PSX), the performance indicators reflect the company's strategic decisions and market conditions over the fiscal year.
Comparative analysis of key financial data over the last four years shows that total assets decreased slightly to Rs. 405.52 million from Rs. 401.96 million in 2025. The financing portfolio showed a decrease from Rs. 325.68 million in 2025 to Rs. 308.9 million in 2026. Total liabilities dropped to Rs. 45.39 million from Rs. 53.21 million, while net equity increased to Rs. 360.13 million from Rs. 348.75 million.
Revenue by product for the fiscal year 2025-26 was led by diminishing musharakah, which accounted for 67.6% of the total revenue at Rs. 46.12 million, a slight decline from the previous year's 66.1%. Musharakah revenue increased to Rs. 6.03 million, representing 8.8% of total revenue, while ijarah (net) decreased to Rs. 4.01 million. Murabahah and equity income also experienced variations in their contributions to the total revenue of Rs. 68.21 million.
The income statement for the last four years indicates that total income decreased from Rs. 72.58 million in 2025 to Rs. 68.21 million in 2026. Operating expenses remained relatively stable with a minor move, while profit before management fee and profit before tax saw reductions to Rs. 17.25 million and Rs. 14.89 million, respectively. The profit after tax decreased to Rs. 11.38 million, underscoring the challenges faced by the company in maintaining its profitability amid fluctuating market conditions.
Designated as a key player in the financial services market, Trust Modaraba continues to navigate a complex economic landscape, as evidenced by the fiscal data and projections detailed in the report.