KARACHI: First Capital Equities Limited (FCEL) reported a profit after tax from continuing operations of Rs9.36 million for the nine months ended March 31, 2026, marking a significant turnaround from the previous year’s performance as the company continued its strategic transition away from the brokerage business.
According to the company’s latest financial statements, earnings per share (EPS) from continuing operations stood at Rs0.06, compared with Rs0.31 in the corresponding period of last year. After accounting for discontinued operations, the company reported a net profit of Rs8.49 million, with total EPS of Rs0.06.
The improvement in profitability was largely supported by a strong unrealized gain of Rs60.55 million on the remeasurement of investments at fair value through profit or loss. Meanwhile, dividend income reached Rs1.90 million, although gains from the disposal of short-term investments declined to approximately Rs804,000 during the period.
In its directors’ report, FCEL stated that it is in the process of surrendering its Trading Right Entitlement Certificate (TREC) of the Pakistan Stock Exchange as part of its plan to exit the stock brokerage business. The company has already submitted the application to the PSX, and the surrender process is currently underway.
The company also revealed plans to transform its principal line of business into the real estate sector. Necessary amendments to the Memorandum of Association have been initiated, and management expects commercial operations to resume after regulatory approvals and completion of the transition process.
As of March 31, 2026, FCEL’s total assets stood at approximately Rs1.29 billion, while shareholders’ equity improved to Rs531.97 million. The company continued to maintain investment property valued at Rs824.78 million, which remains one of its largest assets.
Management expressed confidence that the strategic shift toward real estate will position the company for sustainable long-term growth while creating greater value for shareholders.
