Karachi: MCB Investment Management Limited, the management company of Pakistan Income Fund, has announced its financial results for the half-year period ending December 31, 2024. The announcement was made following a Board of Directors meeting held at the company's head office in Karachi on February 4, 2025. The financial statements, including the Statement of Assets and Liabilities, Statement of Profit and Loss, Statement of Other Comprehensive Income, Statement of Movement in Unit Holders' Fund, and Statement of Cash Flows, were approved during the meeting.

The Pakistan Income Fund reported a substantial increase in its total assets, amounting to 3.51 billion rupees as of December 31, 2024, compared to 2.60 billion rupees on June 30, 2024. Net assets also saw a significant rise to 2.76 billion rupees from 1.90 billion rupees at the start of the period. The net asset value per unit increased from 54.95 rupees to 60.87 rupees, reflecting the fund's robust performance.

For the half-year ended December 31, 2024, the fund generated a total income of 243.40 million rupees, with income from government securities contributing the largest share at 121.94 million rupees. Other income streams included net realized gains on the sale of investments, income from term finance certificates, and mark-up on savings accounts with banks. Despite a net unrealized diminution of 1.43 million rupees on re-measurement of investments, the fund's total comprehensive income stood at 218.21 million rupees.

According to information available from the Pakistan Stock Exchange (PSX), the fund's liabilities were recorded at 752.80 million rupees, up from 703.15 million rupees as of June 30, 2024. The increase in liabilities was primarily due to higher payables to the management company and for the purchase of investments.

The fund's expenses for the half-year were reported at 25.19 million rupees, down from 30.46 million rupees in the corresponding period of the previous year. The decrease was attributed to lower allocated and selling expenses. After accounting for expenses, the net income before taxation amounted to 218.21 million rupees, with the same figure reported for net income after taxation.

The fund's management has indicated that earnings per unit (EPU) calculations were not disclosed due to the impracticality of determining the weighted average number of units. As of December 31, 2024, the fund had 45.32 million units in issue.

The financial results indicate a strong performance by MCB Investment Management Limited and reflect positively on the Pakistan Income Fund's market position. The fund's growth in assets and net income suggests a well-managed investment strategy, providing value to its unit holders. Further details and printed copies of the accounts will be distributed among the members of the exchange for their review.