Karachi: First Dawood Properties Limited has released its annual report for the fiscal year ending June 30, 2026, revealing a slight increase in profit after taxation amid fluctuating revenue streams. The company reported a profit after taxation of PKR 6,421,780, up from PKR 6,372,486 the previous year. The earnings per share remained consistent at PKR 0.043.

The report, dated October 5, 2026, highlights significant variations in income sources. Property rental income surged to PKR 7,068,970 from PKR 1,524,600, marking a very large increase. Lease income, however, experienced a very large decline, falling to PKR 640,000 from PKR 3,543,585. Return on deposits and investments also saw a big move downward to PKR 30,874,222 from PKR 46,675,849.

According to information available from the Pakistan Stock Exchange (PSX), the company's total income decreased to PKR 38,947,430 from PKR 52,270,528. This decline was mitigated by favorable provisions and fair value adjustments. Notably, there was a reversal in provisions for lease losses and doubtful recoveries amounting to PKR 6,300,300, compared to a previous provision of PKR 50,090,140. A fair value gain on investment properties of PKR 11,714,904 was recorded, contrasting with the previous year's loss of PKR 26,193,750.

The company's total expenditures stood at PKR 46,477,982, a significant change from the previous year's gain of PKR 53,870,972, primarily due to the absence of the liability write-back of PKR 98,545,394 recorded in the prior year. Administrative expenses remained stable at PKR 29,285,878.

In terms of assets, First Dawood Properties Limited reported a total of PKR 926,458,805, a moderate increase from PKR 895,124,915. Non-current assets amounted to PKR 722.77 million, up from PKR 679.40 million, driven by increases in investment properties and long-term investments. Current assets, however, saw a decrease to PKR 203.68 million from PKR 215.73 million.

The company's equity and liabilities structure remained robust, with total equity and reserves rising to PKR 683.77 million from PKR 668.16 million. Non-current liabilities increased to PKR 163.08 million from PKR 145.34 million, while current liabilities slightly decreased to PKR 79.61 million from PKR 81.62 million.

The report underscores the company's efforts to stabilize its financial position despite the challenges in its income streams.