Lahore: Kohinoor Power Company Limited has announced its financial results for the fiscal year ending June 30, 2026, in its 35th Annual Report, presenting a stark contrast to the previous year's performance. Despite continuing investments in the equity market and rental income from its building, the company recorded a revenue of Rs. 10.220 million, up from Rs. 6.742 million in the corresponding period last year. However, this was overshadowed by a post-tax loss of Rs. 3.468 million, a notable downturn from the Rs. 10.918 million profit reported in the prior year, resulting in an earnings per share (EPS) of Rs. (0.28), compared to Rs. 0.87 previously.
The decline in profitability is primarily attributed to the offset of carry-forward losses for income tax purposes and the creation of a deferred tax asset. The management remains optimistic, stating that a recovery in the stock market could positively influence the company's future viability. This confidence is underlined by a strong cash flow management strategy and a robust internal financial control system.
Further, the company's strategy includes not declaring any dividends, with the intention to retain earnings to strengthen its financial standing and enhance long-term shareholder value. The Board has also formalized a policy of non-remuneration for both Executive and Non-executive Directors, aligning with recommendations from the Human Resource and Remuneration Committee.
According to information available from the Pakistan Stock Exchange (PSX), the company's activities fall within the designated market category, and the management has complied with the Corporate and Financial Reporting Framework of the Securities and Exchange Commission of Pakistan. Compliance with the Code of Corporate Governance Regulations 2019 has been affirmed, with mechanisms in place for annual Board performance evaluations.
Despite the financial setback, Kohinoor Power Company maintains a positive outlook, bolstered by its nearly debt-free status and sufficient resources to meet obligations. The company's commitment to health, safety, and environmental standards, alongside corporate social responsibility initiatives, continues to play a pivotal role in its operations.