Karachi: Dolmen City REIT, managed by Arif Habib Dolmen REIT Management Limited, experienced a rise in revenue but a decline in profit for the fiscal year ending June 30, 2024, as announced by the Board of Directors during their meeting on October 25, 2024.

The REIT reported a total revenue of 5,158.60 million rupees, an increase from the previous year's 4,577.15 million rupees, driven by a rise in rental and marketing incomes. Rental income rose to 4,854.66 million rupees from 4,318.76 million rupees, while marketing income increased to 303.93 million rupees from 258.39 million rupees.

Despite the revenue growth, Dolmen City REIT recorded a decrease in its profit before taxation, which stood at 8,140.06 million rupees, down from 9,291.82 million rupees the previous year. The decline was primarily due to a lower unrealized gain on the remeasurement of the fair value of investment property, which amounted to 3,625.02 million rupees, compared to 5,225.67 million rupees in 2023.

According to information available from the Pakistan Stock Exchange (PSX), the company's administrative and operating expenses increased to 817.81 million rupees from 580.27 million rupees.

The Board of Directors has not recommended any cash dividend, bonus shares, or right shares for the year, indicating no additional entitlement or corporate actions. Earnings per unit decreased to 3.66 rupees, from 4.18 rupees in the previous year.

The annual report for the fiscal year 2024 will be transmitted through the Pakistan Unified Corporate Action Reporting System (PUCARS) within the specified time frame.