Karachi: Al Meezan Investment Management Ltd. has released its unaudited condensed interim income statement for the quarter ending September 30, 2026, revealing a substantial decline in income in comparison to the same period last year.
The report, dated October 30, 2026, highlights a total loss of 65.74 million rupees, contrasting sharply with the previous year's income of 640.65 million rupees. This downturn is primarily attributed to a net unrealised diminution on the re-measurement of investments classified as 'financial assets at fair value through profit or loss,' amounting to 196.12 million rupees, compared to an appreciation of 520.05 million rupees in the prior year.
Income from various sources showed mixed results. Profit on savings accounts with banks increased to 46.92 million rupees from 18.93 million rupees, and dividend income rose to 21.74 million rupees from 13.48 million rupees. However, profit on sukuk certificates saw a decrease to 16.29 million rupees from 24.06 million rupees. Additionally, net realised gain on the sale of investments dropped to 35.00 million rupees from 64.13 million rupees. The reversal of provision contributed 10.42 million rupees to the income, a figure absent in the previous year.
According to information available from the Pakistan Stock Exchange (PSX), the asset management category has faced challenges in maintaining previous performance levels, reflecting broader market conditions.
Expenses for Al Meezan Investment Management Ltd.'s operations also saw an increase, totaling 46.05 million rupees, up from 41.17 million rupees. Key expense categories included management remuneration, which rose to 32.02 million rupees, and brokerage expenses, which increased to 4.62 million rupees.
The net loss for the quarter before and after taxation stood at 111.80 million rupees, a sharp contrast to the net income of 599.48 million rupees recorded in the same quarter of 2025. The report further notes that there was no taxation for the quarter.
The allocation of net income for the quarter indicated no available accounting income for distribution, whether relating to capital gains or excluding them, as opposed to the previous year's allocation of 565.81 million rupees.
This financial performance underscores the volatility and challenges faced in the financial markets over the past year, impacting Al Meezan Investment Management Ltd.'s ability to generate comparable returns.