Popular Islamic Modaraba Posts Rs. 3.91 Million Profit in First Quarter of FY2026-27
Popular Islamic Modaraba has announced its financial results for the quarter ended September 30, 2026, reporting a profit after taxation of Rs. 3.91 million. The financial results were approved by the Board of Directors on October 23, 2026, reflecting the institution’s continued operations in Islamic financing and investment.
According to the company’s unaudited financial statements, Popular Islamic Modaraba recorded total income of Rs. 7.77 million during the quarter, compared with Rs. 8.06 million in the corresponding period last year. Operating profit stood at Rs. 5.57 million, while profit before taxation reached Rs. 5.51 million.
After accounting for taxation of approximately Rs. 1.60 million, the Modaraba reported a net profit of Rs. 3.91 million for the quarter. Earnings per certificate remained unchanged at Rs. 0.20, matching the figure recorded in the same quarter of the previous year.
Financial Position Strengthens
The company’s balance sheet showed total assets of Rs. 268.29 million as of September 30, 2026, compared with Rs. 230.47 million at June 30, 2026. This represents an increase of approximately 16.4% over the three-month period.
Current assets stood at Rs. 144.27 million, including cash and bank balances of Rs. 25.56 million. The increase in total assets indicates an expansion in the company’s reported financial position during the quarter.
Certificate holders’ equity reached Rs. 218.28 million, compared with Rs. 214.38 million at the end of June 2026. The improvement primarily reflects the profit earned during the reporting period.
Cash Flow and Financing Activities
The cash flow statement showed a net increase in cash and cash equivalents of approximately Rs. 10.19 million during the quarter. Cash and cash equivalents rose from Rs. 15.37 million at the beginning of the period to Rs. 25.56 million at September 30, 2026.
The company reported financing inflows of Rs. 32 million from its management company. At the same time, cash flows from operating activities reflected the impact of changes in financing receivables and other working capital movements.
Popular Islamic Modaraba operates in several areas of Islamic finance, including Ijarah, Diminishing Musharakah and Murabahah. Its activities also include trading in listed securities and other commodities, according to the notes accompanying its financial statements.
No Dividend or Bonus Shares Announced
Alongside the quarterly results, the board recommended no cash dividend, bonus shares or right shares. The company also reported no other entitlement or corporate action in the announcement dated October 23, 2026.
The first quarterly report is expected to be transmitted through the Pakistan Stock Exchange’s PUCARS system and published on the Modaraba’s official website.
Outlook
Popular Islamic Modaraba’s first-quarter results show a modest decline in income and net profit compared with the corresponding period last year, while its total assets and cash balances increased compared with the previous quarter-end.
Investors following the company may continue to monitor its earnings, asset growth, liquidity position and financing activities in the coming quarters to assess the sustainability of its financial performance.
