KARACHI: First Treet Manufacturing Modaraba (FTMM), managed by Treet Holdings Limited, has announced its financial results for the nine-month period ended March 31, 2026, reporting a net profit of Rs89.44 million, reflecting a decline compared to Rs113.74 million earned during the corresponding period last year.
According to the financial statements approved by the Board of Directors in its meeting held on April 29, 2026, the Modaraba posted net revenue of Rs2.99 billion, up from Rs2.86 billion in the same period of the previous year. However, despite higher revenue, profitability was affected by increased operating costs, distribution expenses, and levies.
Gross profit for the nine-month period stood at Rs248.15 million, compared with Rs268.96 million a year earlier. Operating profit also declined to Rs60.21 million from Rs117.87 million in the corresponding period last year. Profit before tax came in at Rs77.80 million, while earnings per certificate (EPS) were reported at Rs0.46, compared with Rs0.58 in the previous year’s comparable period.
For the third quarter alone (January–March 2026), FTMM recorded a net profit of Rs12.88 million, significantly lower than the Rs36.23 million posted in the same quarter last year. Quarterly EPS stood at Rs0.07, compared with Rs0.19 in the corresponding period of 2025.
The Board announced no cash dividend, bonus certificates, right certificates, or any other corporate action for the period. It also confirmed that there was no other price-sensitive information requiring disclosure.
As of March 31, 2026, the Modaraba’s total assets increased to approximately Rs3.82 billion, compared with Rs3.69 billion at the end of June 2025. Meanwhile, unappropriated profit stood at Rs226.61 million, reflecting the company’s continued profitability despite a challenging operating environment.
The latest results indicate that while First Treet Manufacturing Modaraba maintained revenue growth during the period, higher operating expenses and taxation weighed on its overall earnings, resulting in lower profitability compared to the previous year.
