Skip to content
Smart Money

Modarabas

FTSM First Tri-Star Modaraba

Latest results: FY2026 · Jun 2026

Last close · 16 Oct 2026

Rs 34.65 -10.00%

Annual · FY2017 – FY2026

First Tri-Star Modaraba (FTSM) income statement

First Tri-Star Modaraba reported revenue of Rs 23.1 mn for FY2026 (Jul 2025 – Jun 2026), down 38.6% on FY2025. Finance cost was Rs 1.1 mn, down 48.2% on FY2025. Tax of Rs 686,317 took 12.3% of pre-tax profit. Profit attributable to shareholders was Rs 4.9 mn, or Rs 0.23 per share.

FTSM income statement (annual) (Rs mn)
Rs mn FY2026 * Jul 2025 – Jun 2026 FY2025 * Jul 2024 – Jun 2025 FY2024 * Jul 2023 – Jun 2024 FY2023 Jul 2022 – Jun 2023 FY2022 Jul 2021 – Jun 2022 FY2021 Jul 2020 – Jun 2021 FY2020 Jul 2019 – Jun 2020 FY2019 Jul 2018 – Jun 2019 FY2018 Jul 2017 – Jun 2018 FY2017 Jul 2016 – Jun 2017
Revenue 23.1 37.6 35.5 42.6 28.0 39.4 26.8 19.9 18.0 6.9
Operating expenses (12.5) (49.1) (33.1) 313.8 (27.3) (25.9) (24.5) (40.4) (15.7) (3.5)
Finance cost (1.1) (2.1) (1.9) (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) —
Profit before tax 5.6 (15.2) 0.1 356.4 0.8 13.5 2.3 (20.4) 2.3 3.4
Taxation (0.7) 0.2 1.6 (2.2) (0.4) 0.0 0.0 0.0 0.0 (1.4)
Profit after tax 4.9 (15.0) 1.7 354.2 0.4 13.5 2.3 (20.4) 2.3 2.0
Profit attributable to shareholders 4.9 (15.0) 1.7 354.2 0.4 13.5 2.3 (20.4) 2.3 2.0
Per share
EPS – basic (Rs) Rs 0.23 (0.71) 0.08 16.74 0.02 0.64 0.11 (0.97) 0.11 0.09
Dividend per share (Rs) Rs 0.00 0.00 4.00 4.00 0.00 0.60 0.00 0.00 0.00 0.00
FTSM income statement — year-on-year change (Rs mn)
Rs mn FY2026 * Jul 2025 – Jun 2026 FY2025 * Jul 2024 – Jun 2025 FY2024 * Jul 2023 – Jun 2024 FY2023 Jul 2022 – Jun 2023 FY2022 Jul 2021 – Jun 2022 FY2021 Jul 2020 – Jun 2021 FY2020 Jul 2019 – Jun 2020 FY2019 Jul 2018 – Jun 2019 FY2018 Jul 2017 – Jun 2018 FY2017 Jul 2016 – Jun 2017
Revenue -38.6% +5.7% -16.6% +51.9% -28.8% +47.1% +34.2% +10.8% +159.3% —
Operating expenses -74.6% +48.2% — -1,250.4% +5.4% +5.7% -39.3% +157.4% +344.3% —
Finance cost -48.2% +10.5% +89,874.7% -44.6% +33.0% +4.6% -76.2% +2,002.0% — —
Profit before tax — -25,550.5% -100.0% +46,841.9% -94.4% +493.1% — -980.5% -32.0% —
Taxation — — -171.2% +541.8% — — — — -100.0% —
Profit after tax — -1,004.5% -99.5% +86,550.7% -97.0% +493.1% — -980.5% +15.8% —
Profit attributable to shareholders — -1,004.5% -99.5% +86,550.7% -97.0% +493.1% — -980.5% +15.8% —
Per share
EPS – basic (Rs) — -1,004.5% -99.5% +86,590.8% -97.0% +493.2% — -980.6% +15.8% —
Dividend per share (Rs) — -100.0% 0.0% — -100.0% — — — — —

Change against the previous fiscal year; shown when the earlier figure is positive.

FTSM income statement — common size (Rs mn)
Rs mn FY2026 * Jul 2025 – Jun 2026 FY2025 * Jul 2024 – Jun 2025 FY2024 * Jul 2023 – Jun 2024 FY2023 Jul 2022 – Jun 2023 FY2022 Jul 2021 – Jun 2022 FY2021 Jul 2020 – Jun 2021 FY2020 Jul 2019 – Jun 2020 FY2019 Jul 2018 – Jun 2019 FY2018 Jul 2017 – Jun 2018 FY2017 Jul 2016 – Jun 2017
Revenue 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Operating expenses (54.0%) (130.6%) (93.2%) 736.7% (97.3%) (65.7%) (91.5%) (202.4%) (87.1%) (50.8%)
Finance cost (4.7%) (5.6%) (5.4%) (0.0%) (0.0%) (0.0%) (0.0%) (0.1%) (0.0%) —
Profit before tax 24.2% (40.5%) 0.2% 836.7% 2.7% 34.3% 8.5% (102.4%) 12.9% 49.2%
Taxation (3.0%) 0.5% 4.5% (5.3%) (1.2%) 0.0% 0.0% 0.0% 0.0% (20.3%)
Profit after tax 21.3% (40.0%) 4.7% 831.4% 1.5% 34.3% 8.5% (102.4%) 12.9% 28.9%
Profit attributable to shareholders 21.3% (40.0%) 4.7% 831.4% 1.5% 34.3% 8.5% (102.4%) 12.9% 28.9%

Each line as a percentage of revenue.

Figures in Pakistani rupees as reported by the company; costs and cash outflows in brackets; "—" = not reported. * Figures in this period do not fully reconcile in the source data (hover the * for details). Updated 16 Oct 2026.

All reported line items 87
FTSM income statement — all reported line items (Rs mn)
Rs mn FY2026 Jul 2025 – Jun 2026 FY2025 Jul 2024 – Jun 2025 FY2024 Jul 2023 – Jun 2024 FY2023 Jul 2022 – Jun 2023 FY2022 Jul 2021 – Jun 2022 FY2021 Jul 2020 – Jun 2021 FY2020 Jul 2019 – Jun 2020 FY2019 Jul 2018 – Jun 2019 FY2018 Jul 2017 – Jun 2018 FY2017 Jul 2016 – Jun 2017
Revenue from Goods & Services 23.1 37.6 35.5 42.6 28.0 39.4 26.8 19.9 18.0 6.9
Sales of Goods & Services - Net - Unclassified 23.1 37.6 35.5 42.6 28.0 7.6 8.8 19.9 18.0 6.9
Rental & Property-Related Operating Revenue — — — — — 31.8 18.0 — — —
Revenue from Business Activities - Total 23.1 37.6 35.5 42.6 28.0 39.4 26.8 19.9 18.0 6.9
Selling, General & Administrative Expenses - Total 40.4 56.8 33.1 37.2 28.8 25.7 25.0 40.4 15.7 3.1
Selling, General & Administrative Expenses - Unclassified 39.2 56.8 33.1 33.8 28.7 23.9 24.7 — — 2.7
Other Operating Expense/(Income) - Net (27.9) (7.7) (0.0) (351.0) (1.5) 0.2 (0.5) (0.0) (0.0) 0.4
Other Operating Income - Total 28.1 7.7 0.0 — 1.5 0.1 — — — —
Gross Profit - Industrials/Property - Total 23.1 37.6 35.5 42.6 28.0 39.4 26.8 19.9 18.0 6.9
Operating Expenses - Total 12.5 49.1 33.1 (313.8) 27.3 25.9 24.5 40.4 15.7 3.5
Labor & Related Expenses including Stock-Based Compensation in Selling, General & Administrative Expenses 1.2 0.0 0.1 3.0 0.1 1.6 0.3 — — 0.4
Selling, General & Administrative Expenses - Other - Total — 0.0 0.0 0.4 0.0 0.2 0.0 — — 0.1
Operating Profit before Non-Recurring Income/(Expense) 10.6 (11.5) 2.4 356.4 0.8 13.5 2.3 (20.4) 2.3 3.4
Financing Income/(Expense) - Net - Total (1.1) (2.1) (1.9) (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) —
Property & Other Taxes — 0.0 0.0 0.4 0.0 0.2 0.0 — — 0.1
Interest Expense - Net of (Interest Income) 1.1 2.1 1.9 0.0 0.0 0.0 0.0 0.0 0.0 —
Interest Expense - Net of Capitalized Interest 1.1 2.1 1.9 0.0 0.0 0.0 0.0 0.0 0.0 —
Operating Provisions - Increase/(Decrease) 0.2 0.0 0.0 — 0.0 0.3 — — — —
Non-Interest Financial Income/(Expense) - Total (0.0) — — — — — — — — —
Non-Interest Financial Income/(Expense) - Other - Net (0.0) — — — — — — — — —
Sale of Tangible & Intangible Fixed Assets - Gain/Loss 0.8 — — — — — — — — —
Other Non-Operating Income/(Expense) - Total (4.7) (1.6) (0.4) — — 0.0 — 0.0 — —
Normalized Pre-tax Profit 5.6 (15.2) 0.1 356.4 0.8 13.5 2.3 (20.4) 2.3 3.4
Provision for Income Tax Expense- Unclassified 0.7 (0.2) (1.6) 2.2 0.4 0.0 0.0 0.0 0.0 1.4
Income before Taxes 5.6 (15.2) 0.1 356.4 0.8 13.5 2.3 (20.4) 2.3 3.4
Income Taxes 0.7 (0.2) (1.6) 2.2 0.4 0.0 0.0 0.0 0.0 1.4
Net Income after Tax 4.9 (15.0) 1.7 354.2 0.4 13.5 2.3 (20.4) 2.3 2.0
Income before Discontinued Operations & Extraordinary Items 4.9 (15.0) 1.7 354.2 0.4 13.5 2.3 (20.4) 2.3 2.0
Net Income before Minority Interest 4.9 (15.0) 1.7 354.2 0.4 13.5 2.3 (20.4) 2.3 2.0
Net Income after Minority Interest 4.9 (15.0) 1.7 354.2 0.4 13.5 2.3 (20.4) 2.3 2.0
Income Available to Common Shares 4.9 (15.0) 1.7 354.2 0.4 13.5 2.3 (20.4) 2.3 2.0
DPS - Common - Gross - Issue - By Period End Date Rs 0.00 0.00 4.00 4.00 0.00 0.60 0.00 0.00 0.00 0.00
Net Income - Basic - including Extraordinary Items Applicable to Common - Total 4.9 (15.0) 1.7 354.2 0.4 13.5 2.3 (20.4) 2.3 2.0
Income available to Common excluding Extraordinary Items 4.9 (15.0) 1.7 354.2 0.4 13.5 2.3 (20.4) 2.3 2.0
Shares used to calculate Basic EPS - Total mn 21.2 21.2 21.2 21.2 21.2 21.2 21.2 21.2 21.2 21.2
EPS - Basic - including Extraordinary Items Applicable to Common - Total Rs 0.23 (0.71) 0.08 16.74 0.02 0.64 0.11 (0.97) 0.11 0.09
EPS - Basic - excluding Extraordinary Items Applicable to Common - Total Rs 0.23 (0.71) 0.08 16.74 0.02 0.64 0.11 (0.97) 0.11 0.09
EPS - Basic - excluding Extraordinary Items - Normalized - Total Rs 0.23 (0.71) 0.08 16.74 0.02 0.64 0.11 (0.97) 0.11 0.09
Allocated Net Income including Extraordinary Items Applicable to Common - Issue Specific 4.9 (15.0) 1.7 354.2 0.4 13.5 2.3 (20.4) 2.3 2.0
Earnings Allocation Factor - Basic - Issue Specific 1.00× 1.00× 1.00× 1.00× 1.00× 1.00× 1.00× 1.00× 1.00× 1.00×
Shares used to calculate Basic EPS - Issue Specific mn 21.2 21.2 21.2 21.2 21.2 21.2 21.2 21.2 21.2 21.2
EPS - Basic - including Extraordinary Items Applicable to Common - Issue Specific Rs 0.23 (0.71) 0.08 16.74 0.02 0.64 0.11 (0.97) 0.11 0.09
EPS - Basic - excluding Extraordinary Items Applicable to Common - Issue Specific Rs 0.23 (0.71) 0.08 16.74 0.02 0.64 0.11 (0.97) 0.11 0.09
EPS - Basic - excluding Extraordinary Items - Normalized - Issue Specific Rs 0.23 (0.71) 0.08 16.74 0.02 0.64 0.11 (0.97) 0.11 0.09
EPS - Basic from Discontinued Operations & Extraordinary Items Rs 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Income - Diluted - including Extraordinary Items Applicable to Common - Total 4.9 (15.0) 1.7 354.2 0.4 13.5 2.3 (20.4) 2.3 2.0
Diluted Income available to Common excluding Extraordinary Items 4.9 (15.0) 1.7 354.2 0.4 13.5 2.3 (20.4) 2.3 2.0
Shares used to calculate Diluted EPS - Total mn 21.2 21.2 21.2 21.2 21.2 21.2 21.2 21.2 21.2 21.2
EPS - Diluted - including Extraordinary Items Applicable to Common - Total Rs 0.23 (0.71) 0.08 16.74 0.02 0.64 0.11 (0.97) 0.11 0.09
EPS - Diluted - excluding Extraordinary Items Applicable to Common - Total Rs 0.23 (0.71) 0.08 16.74 0.02 0.64 0.11 (0.97) 0.11 0.09
EPS - Diluted - excluding Extraordinary Items - Normalized - Total Rs 0.23 (0.71) 0.08 16.74 0.02 0.64 0.11 (0.97) 0.11 0.09
Allocated Diluted Net Income including Extraordinary Items Applicable to Common - Issue Specific 4.9 (15.0) 1.7 354.2 0.4 13.5 2.3 (20.4) 2.3 2.0
Earnings Allocation Factor - Diluted - Issue Specific 1.00× 1.00× 1.00× 1.00× 1.00× 1.00× 1.00× 1.00× 1.00× 1.00×
Shares used to calculate Diluted EPS - Issue Specific mn 21.2 21.2 21.2 21.2 21.2 21.2 21.2 21.2 21.2 21.2
EPS - Diluted - including Extraordinary Items Applicable to Common - Issue Specific Rs 0.23 (0.71) 0.08 16.74 0.02 0.64 0.11 (0.97) 0.11 0.09
EPS - Diluted - excluding Extraordinary Items Applicable to Common - Issue Specific Rs 0.23 (0.71) 0.08 16.74 0.02 0.64 0.11 (0.97) 0.11 0.09
EPS - Diluted - excluding Extraordinary Items - Normalized - Issue Specific Rs 0.23 (0.71) 0.08 16.74 0.02 0.64 0.11 (0.97) 0.11 0.09
EPS - Diluted from Discontinued Operations & Extraordinary Items Rs 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
DPS - Common - Gross - Issue - By Announcement Date Rs 0.00 2.00 6.00 0.00 0.60 0.00 0.00 0.00 0.00 0.00
DPS - Common - Net - Issue - By Announcement Date Rs 0.00 1.80 5.40 0.00 0.54 0.00 0.00 0.00 0.00 0.00
Earnings before Interest & Taxes (EBIT) 10.6 (11.5) 2.4 356.4 0.8 13.5 2.3 (20.4) 2.3 3.4
Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA) 28.8 0.5 7.7 357.8 1.7 15.0 8.3 (13.7) 2.5 4.6
Depreciation - Investment Property - Supplemental — — — 7.6 9.2 9.0 5.6 6.3 13.9 —
Depreciation & Amortization - Supplemental 18.2 12.0 5.3 1.4 0.9 1.5 6.0 6.7 0.2 1.2
Depreciation Expense - Total - Supplemental 18.2 12.0 5.3 1.4 0.9 1.5 6.0 6.7 0.2 1.2
Depreciation - Financial Lease Right-of-Use Assets - Supplemental 18.0 11.1 4.1 — — — — — — —
Depreciation, Depletion & Amortization - Total 18.2 12.0 5.3 1.4 0.9 1.5 6.0 6.7 0.2 1.2
Depreciation - Total 18.2 12.0 5.3 1.4 0.9 1.5 6.0 6.7 0.2 1.2
Normalized after Tax Profit 4.9 (15.0) 1.7 354.2 0.4 13.5 2.3 (20.4) 2.3 2.0
Normalized Net Income from Continuing Operations 4.9 (15.0) 1.7 354.2 0.4 13.5 2.3 (20.4) 2.3 2.0
Normalized Net Income - Bottom Line 4.9 (15.0) 1.7 354.2 0.4 13.5 2.3 (20.4) 2.3 2.0
Earnings before Interest & Taxes (EBIT) - Normalized 6.7 (13.1) 2.0 356.4 0.8 13.5 2.3 (20.4) 2.3 3.4
Earnings before Interest, Taxes, Depreciation & Amortization (EBITDA) - Normalized 24.9 (1.1) 7.2 357.8 1.7 15.0 8.3 (13.7) 2.5 4.6
Depreciation of Financial Lease Right-of-Use Assets 18.0 11.1 4.1 — — — — — — —
Interest Expense on Financial Lease Liabilities - Supplemental 1.1 — — — — — — — — —
Interest Expense 1.1 2.1 1.9 0.0 0.0 0.0 0.0 0.0 0.0 —
Operating Expenses 12.5 49.1 33.1 (313.8) 27.3 25.9 24.5 40.4 15.7 3.5
Selling, General & Administrative Expenses excluding Research & Development Expenses 40.4 56.8 33.1 37.2 28.8 25.7 25.0 40.4 15.7 3.1
Income before Taxes & Provision for Loan Losses 5.6 (15.2) 0.1 356.4 0.8 13.5 2.3 (20.4) 2.3 3.4
DPS - Common - Gross - Issue - By Payable Date Rs 0.00 2.00 6.00 0.00 0.60 0.00 0.00 0.00 0.00 0.00
DPS - Common - Gross - Issue - By Ex Date Rs 0.00 2.00 6.00 0.00 0.60 0.00 0.00 0.00 0.00 0.00
Tax Adjusted Operating Income 5.9 — 54.8 354.2 0.4 13.5 2.3 — 2.3 2.0
Operating Expenses excluding Non-Cash Charges - Total (5.7) 37.1 27.9 (315.2) 26.4 24.4 18.5 33.7 15.5 2.3
Income Available to Common Shares before Depreciation & Amortization 23.1 (3.0) 6.9 355.5 1.3 15.0 8.3 (13.8) 2.5 3.2
Fixed Charges 1.1 2.1 1.9 0.0 0.0 0.0 0.0 0.0 0.0 —
Estimated Tax Rate 0.29× 0.29× 0.29× 0.29× 0.29× 0.29× 0.35× 0.30× 0.30× 0.31×
Total Common & Spl DPS -Gross - Issue - By Announcement Date Rs 0.00 2.00 6.00 0.00 0.60 0.00 0.00 0.00 0.00 0.00

Every line the company reported, in the original order and wording, without regrouping or signs changed. Latest 10 periods; the table above goes back further.