Karachi: JS Investments Limited, managing the JS Government Securities Fund, disclosed its annual financial outcomes for the fiscal year concluded on June 30, 2024. The Board of Directors convened in Karachi on August 20, 2024, to approve these results.

The Fund recorded a substantial increase in net income after taxation, which soared to Rs. 1,237.46 billion for the fiscal year 2024, up from Rs. 241.42 billion in 2023. This spike was supported by a significant profit on balances with banks and investments, which amounted to Rs. 1,493.30 billion, compared to Rs. 328.88 billion the previous year.

According to information available from the Pakistan Stock Exchange (PSX), the Fund managed to mitigate its losses on the sale of investments, totaling a net loss of Rs. 257.13 billion, a reduction from Rs. 55.71 billion in 2023. Additionally, it experienced a net unrealized loss on investments valued through profit or loss of Rs. 20.54 billion, showing an improvement from a loss of Rs. 3.42 billion last year.

Other income for the year stood at Rs. 22,406, contributing to a total income of Rs. 1,256.74 billion, up from Rs. 269.76 billion in 2023. Expenses, including remuneration for the management and trustee services, along with regulatory fees, amounted to Rs. 19.27 billion, decreasing from Rs. 28.34 billion in the prior year.

The Fund paid out total interim dividends of Rs. 22.79 per unit during the year. After accounting for income on units redeemed, the distributable net income totaled Rs. 1,204.52 billion, compared to Rs. 200.47 billion in 2023.