Karachi: MCB Investment Management Limited, the management company of Alhamra Islamic Income Fund, has announced the financial results for the half year ended December 31, 2024. The board of directors approved the results during a meeting held at its head office in Karachi on February 4, 2025. The fund demonstrated a significant increase in net income, achieving a total of 3.51 billion rupees, compared to 535.17 million rupees in the same period the previous year.

The financial statements include crucial documents such as the Statement of Assets and Liabilities, Statement of Profit and Loss, and Statement of Cash Flows, among others. Notably, the earnings per unit (EPU) remain undisclosed as the management considers the calculation of the weighted average number of units impracticable. The company plans to distribute printed accounts amongst the members of the exchange.

The total income for the half year rose to 3.90 billion rupees from 591.52 million rupees in the previous corresponding period. The primary contributors to this growth were profits on savings accounts, sukuk certificates, and Bai muajjal, among others. Specifically, profit on savings accounts with banks soared to 1.16 billion rupees, while profit on sukuk certificates increased to 1.70 billion rupees.

Expenses also saw an increase, with the total expenses amounting to 388.65 million rupees for the half year, up from 56.35 million rupees in the previous year. Significant expense categories included remuneration of the management company, Sindh Sales Tax, and trustee remuneration.

According to information available from the Pakistan Stock Exchange (PSX), the fund's accounting income available for distribution related to capital gains and excluding capital gains was recorded at 547.79 million rupees and 2.22 billion rupees, respectively. This indicates a robust distribution capability for the fund, providing a reliable return for its investors.

Additionally, the fund recorded a net cash increase of 3.75 billion rupees during the period, with cash and cash equivalents reaching 30.72 billion rupees at the end of the half year, up from 1.95 billion rupees at the start of the period. This substantial increase highlights the fund's strong liquidity position and financial management.

The designated market category for this financial performance remains within the scope of Islamic income funds, focusing on Shariah-compliant financial instruments, which continue to attract significant investor interest in the region.