Karachi: The Board of Directors of JS Investments Limited, managing JS Income Fund, approved substantial growth in the Fund's financial performance for the fiscal year ending June 30, 2024, during their meeting on August 20, 2024. This year, the Fund declared an interim cash dividend of Rs. 19.62 per unit.

The detailed financial outcomes reveal a notable increase in income across various sources. Mark-up on bank deposits rose to Rs. 323.39 million from Rs. 51.94 million the previous year. Income from government securities significantly increased to Rs. 695.27 million, compared to Rs. 36.34 million in 2023. Similarly, income from debt securities improved to Rs. 147.36 million from Rs. 104.72 million.

According to information available from the Pakistan Stock Exchange (PSX), the Fund experienced a net loss on the sale of investments of Rs. 3.90 million, an improvement from a loss of Rs. 17.05 million last year. The net unrealised appreciation on re-measurement of investments classified as financial assets at 'fair value through profit or loss' showed a diminution of Rs. 2.91 million this year, against an appreciation of Rs. 12.64 million in 2023.

Total income for the year surged to Rs. 1,167.95 million from Rs. 204.13 million in the previous year, driven by significant gains in mark-up and securities income. Conversely, total expenses also increased, totaling Rs. 139.01 million, up from Rs. 31.60 million, primarily due to higher remuneration of the management company and selling and marketing expenses.

The net income from operating activities before taxation climbed significantly to Rs. 1,028.94 million, compared to Rs. 172.53 million in 2023. After accounting for taxes, the net income for the year also stood at Rs. 1,028.94 million, reflecting robust growth from the previous year.

Income distribution showed that Rs. 861.15 million was available for distribution to shareholders, after accounting for income already paid on units redeemed, which marked a substantial increase from Rs. 105.68 million in 2023.

The financial health of JS Income Fund has shown remarkable improvement, indicating a positive trajectory for future growth and stability in returns for investors.