Karachi: JS Investments Limited, the management company for JS Fund of Funds, disclosed its financial results for the year ended June 30, 2024, at a board meeting held on August 20, 2024. The results reflect a substantial increase in the fund's income and profitability compared to the previous year.

In the detailed financial breakdown for 2024, JS Fund of Funds reported a net gain on the sale of investments amounting to 127.26 million Rupees, a significant rise from 21.19 million Rupees in 2023. The fund also saw a net unrealized appreciation on investments valued at fair market through profit or loss at 51.82 million Rupees, up from 1.53 million Rupees last year. Dividend income and returns on bank balances also saw an increase, with figures reaching 20.87 million and 7.24 million Rupees, respectively.

According to information available from the Pakistan Stock Exchange (PSX), total income for the year soared to 207.31 million Rupees, a leap from 33.83 million Rupees in the previous year. The escalation in income was partially offset by an increase in expenses, which totaled 5.15 million Rupees compared to 2.44 million Rupees last year. These expenses included remuneration for JS Investments Limited, Sindh Sales Tax, remuneration for the Central Depository Company of Pakistan Limited as Trustee, and other operational costs.

The net income before taxation stood at 202.16 million Rupees, a drastic increase from 31.39 million Rupees in 2023. After accounting for taxes, the net income remained at 202.16 million Rupees. From this net income, 123.66 million Rupees were allocated as income available for distribution, with 179.08 million Rupees attributed to capital gains.

The financial results of JS Fund of Funds for the fiscal year 2024 underline a robust growth trajectory and improved performance across its income-generating activities. This reflects the fund's successful management strategies and favorable market conditions during the period.