Karachi: Unit Trust of Pakistan has released its financial results for the fiscal year ended June 30, 2024, demonstrating a significant increase in total income compared to the previous year.

The management of JS Investments Limited, which oversees the operations of the Unit Trust of Pakistan, announced on August 20, 2024, that their board approved these results during a meeting held at 3:00 pm in Karachi. The trust declared an interim cash dividend of Rs 16.50 per unit.

In 2024, the total income reported was Rs 598.90 billion, a substantial rise from Rs 84.21 billion in 2023. This increase was fueled largely by profits earned, which surged to Rs 95.32 billion from Rs 68.36 billion, and dividend income that rose to Rs 55.07 billion from Rs 60.76 billion.

According to information available from the Pakistan Stock Exchange (PSX), the trust also saw a notable change in other income categories, including net unrealised gains on investments, which were reported at Rs 9.04 billion, contrasting the previous year's loss of Rs 7.28 billion.

Expenses for the year were significantly higher at Rs 51.95 billion compared to Rs 38.85 billion in 2023. The largest expenses included remuneration for management services and costs associated with sales tax and securities transactions.

Despite these increased costs, the net income before taxation stood impressively at Rs 546.95 billion, mirroring the net income after tax due to a zero-taxation figure for the year. The trust allocated this entire net income for distribution, including Rs 526.06 billion as accounting income available for distribution.

The financial performance of Unit Trust of Pakistan highlights its robust growth and operational success over the past fiscal year, positioning it favorably in the market for future endeavors.