Karachi: The Pakistan Credit Rating Agency Limited (PACRA) has maintained its entity ratings for Dawood Equities Limited (DEL), recognizing its significant improvement in market presence and profitability, particularly in a year marked by record performance in the KSE-100 Index.

According to The Pakistan Credit Rating Agency Limited, DEL’s focused approach on equity brokerage, along with its underwriting and consultancy services, has allowed it to nearly double its revenue to approximately PKR 132 million in FY24 from PKR 62 million the previous year. The firm reversed a net loss from FY23 to report a net profit of approximately PKR 33 million in FY24, driven largely by higher brokerage income and underwriting commissions. This financial turnaround coincides with the KSE-100 Index reaching new heights above the 81,000 mark, drawing significant investor interest both domestically and internationally.

DEL’s performance is bolstered by a solid equity base of approximately PKR 294 million as of the end of June 2024, and negligible market risk due to its low exposure in proprietary trading. The company’s growth is further supported by a stable ownership structure and a qualified management team. Future strategies include income diversification and expanding the franchise model of its branch network to enhance its service reach.