First Capital Equities Limited Posts Quarterly Loss of Rs11.55 Million

First Capital Equities Limited (FCEL) has reported a loss after taxation of Rs11.55 million for the quarter ended September 30, 2026, compared with a profit after taxation of Rs105.18 million in the corresponding quarter of the previous year, according to the company’s financial statements submitted to the Pakistan Stock Exchange (PSX).

In a notice dated October 16, 2026, the company informed the PSX that its Board of Directors had reviewed the financial results at a meeting held in Lahore on the same day.

Revenue Declines Sharply as Expenses Increase

According to the company’s quarterly profit and loss statement, FCEL recorded income of approximately Rs8.17 million during the quarter, compared with Rs105.59 million in the same period last year.

Operating and administrative expenses increased to Rs354,359 from Rs203,916 a year earlier. The company also reported finance costs of approximately Rs19.18 million during the quarter, contributing to its operating loss of Rs11.37 million.

After accounting for a loss of Rs185,983 from discontinued operations, the company’s total loss after taxation stood at Rs11.55 million.

In comparison, FCEL reported a profit after taxation of Rs105.18 million for the quarter ended September 30, 2025. The latest results reflect a significant year-on-year decline in financial performance.

Earnings Per Share Turn Negative

The company’s earnings per share (EPS) from continuing operations stood at negative Rs0.080 for the quarter, compared with positive Rs0.746 in the corresponding period last year.

Including discontinued operations, the reported loss per share was Rs0.08, compared with earnings per share of Rs0.744 in the previous year’s corresponding quarter.

The figures indicate a substantial deterioration in the company’s quarterly profitability.

Financial Position Remains Supported by Investments

FCEL reported total assets of approximately Rs1.263 billion as of September 30, 2026, compared with Rs1.255 billion at the end of June 2026.

The company’s non-current assets included long-term investments valued at Rs827.37 million. Current assets stood at Rs435.33 million, including short-term investments of approximately Rs244.46 million and cash and bank balances of Rs218,013.

Total equity amounted to Rs465.56 million, down from Rs477.11 million at June 30, 2026. Accumulated losses increased to Rs947.79 million from Rs936.24 million at the end of the previous financial year.

Current liabilities rose to approximately Rs797.22 million from Rs777.62 million at June 30, 2026, reflecting an increase in the company’s reported short-term financial obligations.

Operating Cash Flow Remains Negative

The cash flow statement showed that FCEL used approximately Rs106,492 in cash from operating activities during the quarter, compared with cash generated from operations of Rs22,598 in the corresponding period last year.

Cash and cash equivalents declined from Rs324,505 at the beginning of the quarter to Rs218,013 at September 30, 2026.

These figures highlight the company’s lower reported profitability and the importance of monitoring its future operating performance, financing costs and liquidity position.

No Dividend or Bonus Shares Announced

The Board of Directors did not recommend a cash dividend, bonus shares or a right issue for the quarter ended September 30, 2026.

The company stated that, as no payout had been declared, no book closure was required. The financial statements were submitted electronically through the Pakistan Unified Corporate Action Reporting System (PUCARS), in accordance with the applicable PSX reporting requirements.

Outlook

First Capital Equities Limited’s latest quarterly results show a reversal from the profit recorded in the same period last year. The decline in reported income, higher finance costs and the resulting quarterly loss are key figures for shareholders and market participants to consider.

Investors following FCEL may wish to review subsequent financial statements and company announcements to assess whether profitability improves and how the company manages its financing obligations and available liquidity.