Karachi: Al Meezan Investment Management Limited has disclosed its financial results for the quarter ending September 30, 2024. The details, shared with the Pakistan Stock Exchange on October 10, 2024, highlighted the performance of multiple funds managed by the company.

According to information available from the Pakistan Stock Exchange (PSX), the Board of Directors of Al Meezan Investment Management approved the financial outcomes in their meeting on October 10, 2024. The disclosed results include earnings from 20 different funds, ranging from Islamic and mutual funds to income and gold funds, with detailed distributions made during the quarter.

For the quarter, the company recorded a net loss of Rs. 3,894 million, primarily due to a significant downturn in unrealised gains, which saw a reduction from a gain of Rs. 9,690 million in the same period the previous year to a loss of Rs. 6,303 million. The majority of the funds managed by Al Meezan showed varied performance, with specific payouts detailed per fund, such as an interim payout for the Meezan Pakistan Exchange Traded Fund at Rs. 0.0394 per unit, equivalent to 0.08% of the par value.

The results underscore a challenging quarter for Al Meezan, as shifts in investment valuations impacted overall profitability. The company noted that all reports of the funds under management would be transmitted to PSX and made available on their website within the specified timeframe.