Karachi: Trust Modaraba, managed by Al-Zamin Modaraba Management (Private) Limited, has reported a considerable drop in profits for the quarter ending March 31, 2026, according to a financial disclosure made on April 28, 2026. The company’s Board of Directors approved the quarterly accounts and decided not to declare any dividends, bonus shares, right shares, or any other entitlements for certificate holders.

The un-audited financial results reveal a profit of 5.64 million rupees for the nine-month period ended March 31, 2026, compared to 17.42 million rupees in the same period last year. For the quarter alone, the Modaraba reported a loss of 2.38 million rupees, a stark contrast to the profit of 2.47 million rupees recorded in the corresponding quarter of the previous year.

According to information available from the Pakistan Stock Exchange (PSX), the earnings per certificate dropped to 0.19 rupees for the nine-month period from 0.58 rupees last year. The quarterly earnings per certificate showed a decline to negative 0.08 rupees from 0.08 rupees in the same quarter of the previous year.

Operating expenses for the quarter decreased slightly to 11.45 million rupees from 12.09 million rupees, contributing to an operating loss of 3.91 million rupees compared to a profit of 3.76 million rupees in the previous year. The company also faced a decline in income from ijarah and profits on murabaha and diminishing musharakah/musharakah finances.

The Modaraba’s cash flow activities indicate a net cash generation from operations of 32.58 million rupees, while investing and financing activities resulted in cash outflows of 26.57 million rupees and 2.74 million rupees, respectively.

Trust Modaraba’s financial position as of March 31, 2026, shows total equity of 354.39 million rupees, a minor increase from 350.46 million rupees at the same time last year. The Modaraba’s certificate capital remained unchanged at 298 million rupees.