Karachi: The National Investment Trust Limited (NITL) has disclosed a significant decline in its net income for the quarter ending September 30, 2026. According to the company's unaudited condensed interim income statement released on October 26, 2026, the net income for the period was recorded at a negative 11,434,000 rupees, a stark contrast to the positive 40,859,000 rupees reported in the same quarter of the previous year.

The detailed income statement highlights several key variances contributing to this downturn. Dividend income increased to 3,092,000 rupees from 2,142,000 rupees, marking a very large or significant move. However, the gain on the sale of investments, which stood at 478,000 rupees in September 2025, was absent in the corresponding quarter of 2026. Moreover, a notable net unrealized depreciation of 14,322,000 rupees was recorded on the re-measurement of investments classified as 'financial assets at fair value through profit or loss,' compared to a net unrealized appreciation of 36,880,000 rupees in the previous year.

The expenses for the period slightly increased to 611,000 rupees from 541,000 rupees, with the remuneration of the management company rising to 229,000 rupees from 139,000 rupees, and the Sindh sales tax on this remuneration increasing to 34,000 rupees from 21,000 rupees. Trustee fees and related taxes also saw minor increases.

According to information available from the Pakistan Stock Exchange (PSX), the trust's net income from operating activities plummeted to a negative 11,772,000 rupees from a positive 38,997,000 rupees in the previous year. Consequently, the total comprehensive income for the period mirrored the net income, registering a negative 11,434,000 rupees.

The report also indicates that there were no items of other comprehensive income that would not be reclassified to the income statement, leading to an unchanged total comprehensive income figure. The absence of any taxation impact further underscores the significant financial challenges faced by NITL during this period.

The company operates within the designated market category of investment management, and these results reflect the volatility and challenges present in the current economic climate.