AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, First Capital Investments Limited, the asset management company of First Capital Mutual Fund, in a meeting on April 29, 2024, approved the financial results for the period ending March 31, 2024.
The results for First Capital Mutual Fund show a marked increase in income compared to the previous year. For the nine months ended March 31, the income rose from approximately 2.7 million rupees in 2023 to 3.15 million rupees in 2024. Similarly, the income for the quarter also saw a significant rise, from 990,760 rupees in 2023 to 772,111 rupees in 2024.
Expenses for the same periods also reflected a similar trend. The expenses for the nine months amounted to 3.38 million rupees in 2024, up from 2.86 million rupees in 2023. The quarterly expenses increased to 1.20 million rupees in 2024 from approximately 908,358 rupees in 2023.
Overall, the First Capital Mutual Fund reported a net income after taxation of 42.21 million rupees for the nine months ended March 2024, a significant turnaround from a net loss of 3.43 million rupees in the same period the previous year. The quarterly results also showed a substantial improvement with a net income of 5.21 million rupees compared to just 62,646 rupees in 2023.