First Dawood Properties Limited (FDPL) has reported a profit after tax of Rs6.42 million for the financial year ended June 30, 2026, compared with Rs6.37 million recorded in the previous year.

According to the company’s financial results submitted to the Pakistan Stock Exchange, the company’s profit before taxation stood at Rs8.50 million, down from Rs12.00 million in FY2025. After taxation of Rs2.08 million, profit after tax reached Rs6.42 million. The company reported basic and diluted earnings per share (EPS) of Rs0.043, unchanged from the previous year.

Income declines, but bottom-line remains stable

First Dawood Properties recorded total income of Rs38.95 million during FY2026, compared with Rs52.27 million in FY2025.

Property rental income increased substantially to Rs7.07 million from Rs1.52 million, while income from long-term finances rose to Rs210,503 from Rs154,790. However, return on deposits and investments declined to Rs30.87 million from Rs46.68 million.

The company also recorded a positive impact from provisions and changes in fair value. Provision/reversal for lease losses and doubtful recoveries amounted to a Rs6.30 million charge, while the fair value gain on investment properties stood at Rs11.71 million. As a result, total income after provisions and fair-value changes reached Rs56.96 million, compared with a negative Rs24.01 million in FY2025.

Assets expand during the year

The company’s total assets increased to approximately Rs926.46 million as of June 30, 2026, compared with Rs895.12 million a year earlier.

Non-current assets included property and equipment of Rs12.33 million, investment properties of Rs191.84 million, long-term investments of Rs160.80 million, and investments in associates of Rs229.15 million.

Current assets stood at approximately Rs203.68 million, including cash and bank balances of Rs13.03 million, compared with Rs5.35 million in FY2025.

Operating cash flow remains positive

The company generated net cash inflow from operating activities of Rs9.96 million during FY2026, although this was lower than Rs17.82 million in the preceding year.

Investing activities resulted in a net cash outflow of Rs2.28 million, while the company reported no net cash flow from financing activities during the year. Overall, cash and cash equivalents increased by Rs7.68 million, bringing the year-end balance to Rs13.03 million.

No dividend or bonus shares announced

The company’s board, at its meeting held on September 28, 2026, recommended no cash dividend, bonus shares or right shares for the year ended June 30, 2026. The filing also stated that no other entitlement or price-sensitive corporate action was recommended.

First Dawood Properties has scheduled its Annual General Meeting for October 28, 2026, at its Karachi office. The company also stated that its share transfer books will remain closed from October 21 to October 28, 2026, inclusive.

Overall picture

First Dawood Properties entered FY2027 with a slightly higher asset base and stronger year-end cash position. While overall income and profit before tax declined compared with FY2025, the company maintained a similar level of profit after tax, with earnings per share remaining unchanged at Rs0.043.

The financial statements show that rental income improved significantly, while returns from deposits and investments remained the larger contributor to overall income. The company’s financial position at year-end reflected total assets of Rs926.46 million against total equity and liabilities of the same amount.