Karachi: Pakistan Hotels Developers Limited (PHDL) has released its audited financial statements for the fiscal year ending June 30, 2026, revealing a decline in both total assets and net profit. The company reported a total asset value of Rs. 534.23 million, a significant decrease from Rs. 1.42 billion recorded in the previous fiscal year. The report, dated October 1, 2026, outlines the financial performance and position of the company.

The audited financial statements detail a contraction in PHDL's current assets, which dropped to Rs. 534.23 million from Rs. 1.42 billion the previous year. A notable reduction was observed in cash and bank balances, which stood at Rs. 163.03 million, down from Rs. 1.06 billion. Trade receivables also diminished to nil from Rs. 66,000. Conversely, refundable income tax increased substantially to Rs. 366.15 million from zero in 2025.

Equity and reserves for the company were reported at Rs. 523.67 million, down from Rs. 1.39 billion, driven by a decrease in unappropriated profit, which fell to Rs. 523.67 million from Rs. 1.21 billion. The company's liabilities, however, saw a reduction, with current liabilities dropping to Rs. 10.56 million from Rs. 24.19 million, primarily due to a decrease in trade and other payables.

According to information available from the Pakistan Stock Exchange (PSX), PHDL's income from discontinued operations saw a major decline, with revenue dropping to zero from Rs. 78.27 million. The company reported a net profit after taxation of Rs. 30.53 million, a substantial decrease from Rs. 42.08 million in 2025. This represents a significant move in the company's profitability.

Administrative and general expenses were reduced to Rs. 32.68 million from Rs. 93.46 million, contributing to the company’s efforts to manage costs amidst declining revenue. Other income also saw a decrease, recorded at Rs. 82.88 million compared to Rs. 294.72 million in the previous year. Profit before taxation fell to Rs. 49.21 million from Rs. 208.82 million, with taxation also reduced significantly to Rs. 18.68 million from Rs. 166.75 million.

The earnings per share for the year were reported at Rs. 1.70, down from Rs. 2.34 the previous year, reflecting the overall decline in profitability. The financial results underscore the challenges faced by Pakistan Hotels Developers Limited in maintaining its financial position and profitability during the fiscal year ended June 30, 2026.