Karachi: MCB Investment Management Limited has released the financial results for its Alhamra Islamic Stock Fund for the quarter ending September 30, 2026. The results indicate a substantial decline in performance compared to the same period last year.
The financial report, dated October 20, 2026, shows a net loss from operating activities amounting to 827.97 million rupees for the quarter, in contrast to a net income of 1.99 billion rupees recorded in the third quarter of 2025. This downturn is attributed to several factors impacting income and expenses.
The total income for the quarter ended September 30, 2026, was reported as a negative 717.01 million rupees, a steep decline from the 2.09 billion rupees reported in the same period last year. This change is largely attributed to a significant net unrealized diminution in the fair value of investments, classified as 'at fair value through profit or loss,' which registered a decrease of 727.94 million rupees from a previous appreciation of 1.93 billion rupees.
According to information available from the Pakistan Stock Exchange (PSX), the fund experienced a capital loss on the sale of investments amounting to 59.76 million rupees, compared to a capital gain of 67.85 million rupees in 2025. Dividend income slightly decreased to 59.78 million rupees from 68.43 million rupees, while profit on bank deposits saw a drop to 10.92 million rupees from 16.16 million rupees.
On the expenses side, there was an increase, with total expenses rising to 110.96 million rupees from 93.73 million rupees the previous year. This increase is primarily due to higher remuneration for the Management Company, which rose to 83.22 million rupees from 68.68 million rupees, and an increase in Sindh Sales Tax on remuneration of the Management Company to 12.48 million rupees from 10.30 million rupees.
Despite these challenges, the fund reported no taxation liabilities for the period. The report highlights that there was no accounting income available for distribution related to capital gains or otherwise, a stark contrast to the 1.76 billion rupees available in the previous year.
The designated market category for the Alhamra Islamic Stock Fund remains unchanged, though the financial results for the current quarter indicate a need for strategic reassessment to address the losses incurred.