Karachi: NBP Fund Management Limited's NBP Islamic Mahana Amdani Fund has reported a substantial decline in its annual income for the year ending June 30, 2026. The fund's total income for the period was recorded at 1.26 billion rupees, a significant drop from the previous year's 2.24 billion rupees, as stated in the annual report released on October 1, 2026.
The fund's income statement reveals that profits from bank balances decreased to 504.98 million rupees from 629.03 million rupees in the prior year. Income from corporate sukuk certificates and government securities also saw a big move downwards, falling to 518.16 million rupees from 1.16 billion rupees. Additionally, income on bai muajjal certificates decreased to 213.11 million rupees from 225.55 million rupees, and income on certificates of musharakah and Islamic investment fell to 48.52 million rupees from 152.99 million rupees.
According to information available from the Pakistan Stock Exchange (PSX), the fund experienced a net loss on the sale of investments, totaling 9.47 million rupees, compared to a loss of 14.39 million rupees in 2025. Furthermore, there was a net unrealized diminution on the re-measurement of investments classified as financial assets 'at fair value through profit or loss', resulting in a loss of 18.57 million rupees, contrasting with the previous year's appreciation of 15.06 million rupees.
The fund's total expenses also decreased, amounting to 170.44 million rupees from 233.08 million rupees in 2025. This reduction in expenses resulted from the absence of reimbursed selling and marketing expenses, which were previously reported at 42.76 million rupees, and a decrease in the remuneration of the Central Depository Company of Pakistan Limited - Trustee to 9.04 million rupees from 11.81 million rupees.
Despite the reduction in expenses, the net income from operating activities exhibited a very large move downward, reaching 1.09 billion rupees, compared to 2.01 billion rupees in the previous year. Consequently, the net income for the year after taxation mirrored this decline, standing at 1.09 billion rupees, down from the previous year's 2.01 billion rupees.
The allocation of net income for the year also reflected the fund's diminished financial performance. After accounting for income already paid on units redeemed, the net income available for distribution was 334.16 million rupees, compared to 516.94 million rupees in the previous year. The accounting income available for distribution, excluding capital gains, was similarly reduced to 334.16 million rupees from 516.27 million rupees.
These figures underscore the challenges faced by the NBP Islamic Mahana Amdani Fund in the past fiscal year, highlighting the need for strategic adjustments moving forward.