WASL Mobility Modaraba Announces FY2026 Financial Results, Reports Rs. 16.10 Million Profit

WASL Mobility Modaraba, formerly known as First Prudential Modaraba, has announced its financial results for the year ended June 30, 2026, reporting a profit after taxation of approximately Rs. 16.10 million. The company’s financial statements were approved by its Board of Directors at a meeting held on October 5, 2026, in Lahore.

The financial results reflect a challenging year for the company, with profitability declining compared with the previous financial year. According to the announced accounts, WASL Mobility Modaraba recorded earnings per certificate of Rs. 0.12 for FY2026, compared with the restated Rs. 0.23 reported for FY2025.

Revenue Increases Significantly

WASL Mobility Modaraba reported total income of approximately Rs. 334.48 million during FY2026, compared with Rs. 150.37 million in the previous year. Income from Ijarah rentals, its largest reported income source, reached approximately Rs. 275.96 million, compared with Rs. 31.15 million in FY2025.

The company also recorded income from bank deposits, diminishing Musharaka financing, Ijarah financing, investment sales and other sources. These figures indicate a substantial increase in reported income during the year.

However, higher expenses and credit-loss-related charges affected the company’s bottom line. Total expenses, including depreciation on Ijarah assets, administrative expenses and finance charges, amounted to approximately Rs. 341.73 million.

Profitability Remains Under Pressure

Despite the increase in income, profit after taxation declined to Rs. 16.10 million from approximately Rs. 30.31 million in FY2025. Profit before taxation stood at approximately Rs. 45.02 million, while taxation amounted to around Rs. 28.92 million.

The company’s reported financial performance highlights the importance of managing operating costs, financing expenses and credit risk as it continues its business activities.

Balance Sheet and Asset Position

As of June 30, 2026, WASL Mobility Modaraba reported total assets of approximately Rs. 1.21 billion, compared with Rs. 1.10 billion a year earlier. Its asset portfolio included property and equipment, investment properties, intangible assets, long-term investments, Musharaka financing and other receivables.

Bank balances stood at approximately Rs. 410.98 million at year-end, compared with Rs. 472.29 million in FY2025. The company’s financial position also reflected changes in its capital structure and liabilities during the reporting period.

No Dividend Announced

The company announced no cash dividend, bonus shares, right shares or other entitlement or corporate action for the year ended June 30, 2026.

The decision means shareholders will not receive a dividend distribution for the reported financial year based on this announcement.

Annual Review Meeting Scheduled for October 28

WASL Mobility Modaraba has scheduled its Annual Review Meeting for October 28, 2026, at 11:30 a.m. in Lahore. The company’s certificate transfer books will remain closed from October 14 through October 28, 2026, inclusive.

According to the announcement, transfers received by the share registrar by the close of business on October 13, 2026, will be treated as timely for determining eligibility to attend the meeting.

Outlook

WASL Mobility Modaraba’s FY2026 results show a notable increase in reported income alongside a decline in net profit and earnings per certificate. Investors and market participants may monitor future financial statements for further information about the sustainability of income growth, expense management and the company’s overall financial performance.

The annual review meeting will provide an opportunity for shareholders to consider the company’s reported results and related matters.