Karachi: JS Islamic Income Fund, managed by JS Investments Limited, disclosed its financial outcomes for the fiscal year ended June 30, 2024, during the board meeting on August 20, 2024, in Karachi. The fund reported distributing an interim cash dividend of Rs. 21.24 per unit.

The year saw a shift in financial performance with the total income marked at Rs. 160.55 million, a decrease from the previous year's Rs. 192.71 million. This was primarily due to a net loss on investment sales and unrealised net diminution on re-measured investments valued at fair market through profit or loss, totaling a reduction of approximately Rs. 1.83 million.

According to information available from the Pakistan Stock Exchange (PSX), the operating expenses incurred by JS Islamic Income Fund included management fees to JS Investments Limited amounting to Rs. 7.85 million, with additional Sindh sales tax, pushing the total related costs to nearly Rs. 8.87 million. Other significant expenses included remuneration for Digital Custodian Company Limited as the trustee and a comprehensive list of regulatory, operational, and marketing expenses tallying up to Rs. 13.53 million.

After accounting for all expenses, the net income before taxation stood at Rs. 147.02 million. The fund maintained its profitability with the same figure reported as net income after taxation due to non-application of further taxes. The distributable net income, after adjustments for income paid on redeemed units, was Rs. 88.96 million.

This financial performance reflects the fund’s operational activities and market positioning within the designated market category of financial services and investments.