KARACHI: Trust Modaraba has announced its financial results for the nine-month period ended March 31, 2026, reporting a net profit of Rs5.64 million, a significant decline compared to Rs17.42 million recorded during the corresponding period last year. The company’s earnings per certificate (EPS) also fell to Rs0.19 from Rs0.58 in the same period of the previous year.
According to the financial results approved by the Board of Directors of Al-Zamin Modaraba Management (Private) Limited, the Modaraba generated total income of Rs51.07 million, down from Rs56.99 million a year earlier. The decline was primarily driven by lower income from Ijarah operations and the recognition of an unrealized loss on the revaluation of financial assets at fair value through profit or loss.
Operating expenses remained relatively stable at Rs34.62 million, compared with Rs35.34 million in the corresponding period last year. After accounting for management fees, workers’ welfare fund contributions, and taxation, the Modaraba posted a profit after tax of Rs5.64 million.
For the quarter ended March 31, 2026, however, Trust Modaraba recorded a net loss of Rs2.38 million, compared with a profit of Rs2.47 million in the same quarter last year. The quarterly loss translated into a loss per certificate of Rs0.08.
On the balance sheet front, the Modaraba’s total assets stood at Rs394.22 million as of March 31, 2026, while net assets improved to Rs354.39 million, up from Rs348.76 million at the end of June 2025. Total equity also increased to Rs354.39 million, reflecting the retained earnings generated during the period.
The Board did not recommend any cash dividend, bonus certificates, rights issue, or any other corporate action for certificate holders for the quarter ended March 31, 2026.
Despite the softer earnings performance, Trust Modaraba strengthened its financial position by increasing net assets and maintaining a solid equity base. Going forward, the Modaraba’s performance will largely depend on improvements in its financing portfolio, investment returns, and the overall business environment.
