KARACHI: Burj Clean Energy Modaraba (BCEM) has reported a strong financial performance for the nine-month period ended March 31, 2026, posting a net profit after tax of Rs39.2 million, reflecting steady progress in its renewable energy investment strategy and project development initiatives. The results were announced in the Modaraba’s condensed interim financial statements.
During the review period, the Modaraba recorded a profit before tax of Rs45.9 million and profit after tax of Rs39.2 million. The earnings were primarily supported by Rs43.6 million in profit from bank deposits, Rs28.5 million in management consultancy income, Rs15 million in advisory income, and Rs1.36 million from diminishing Musharaka financing. Earnings per certificate stood at Rs0.39 for the nine months ended March 31, 2026.
On a consolidated basis, BCEM achieved an even stronger performance, reporting profit before tax of Rs65.2 million and profit after tax of Rs40.6 million, translating into earnings per certificate of Rs0.41. The Modaraba’s wholly owned subsidiary also contributed positively, posting profit before tax of Rs18.3 million and profit after tax of Rs1.36 million, while surpassing its production benchmarks during the period.
Total assets expanded to approximately Rs3.03 billion, with the balance sheet largely comprising project investments worth Rs1.77 billion, long-term investments of Rs791.1 million, and cash and bank balances of Rs281.8 million. To support its project development activities, the Modaraba successfully raised Rs700 million through short-term Sukuk certificates, which were fully repaid during the reporting period.
A key milestone during the period was the signing of Pakistan’s first green captive power transaction with Power Cement Limited. The project involves the development of a 7.5 MW wind power plant with financing of Rs1.5 billion, led by The Bank of Punjab, with participation from the National Bank of Pakistan and Pak Kuwait Investment Company (PKIC). The initiative marks an important step in expanding clean energy infrastructure and supporting Pakistan’s transition toward sustainable power generation.
The company also announced that its management company has been renamed from Burj Modaraba Management Company (Private) Limited to Burj Investment Management Limited (BIML) and has transitioned from a private company to an unlisted public company. According to management, the change reflects broader ambitions in the renewable energy sector while maintaining its core role as the management company of Burj Clean Energy Modaraba.
Looking ahead, Burj Clean Energy Modaraba said it remains committed to creating long-term value for certificate holders by expanding renewable energy investments and accelerating Pakistan’s shift toward a cleaner and more sustainable energy future.
