AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Tri-Star Mutual Fund Ltd. has released its financial results for the fiscal year ending June 30, 2024, highlighting the company’s operational outcomes and financial adjustments during this period.
The financial statement detailed a net profit of PKR 10,938,509 for the year, with income primarily derived from operations totaling PKR 24,599,949. However, the company faced significant operating expenses, which amounted to PKR 14,996,616, including fees for investment advisory services, custodian fees, and regulatory charges.
According to information available from the Pakistan Stock Exchange (PSX), Tri-Star Mutual Fund’s fiscal strategy included payments to Tri-Star Investments Ltd. for investment advisory services, as well as annual fees to the Central Quality Control (CQC) of Pakistan Ltd and the Securities and Exchange Commission of Pakistan (SECP). Other expenditures included auditors’ remuneration, registrar fees, annual listing fees, advertising expenses, and bank charges.
The company also reported adjustments in its financial position due to tax obligations, including both current and prior year taxation. After accounting for taxes, the net profit adjusted to a comprehensive income of PKR 6,155,039 for the fiscal year 2024. This financial maneuvering reflects the challenges and strategic financial management undertaken by Tri-Star Mutual Fund to maintain profitability in a fluctuating economic environment.
Earnings per certificate stood at PKR 4.83 without the impact of unrealized diminution on remeasurement of investments, which indicates a cautious yet optimistic financial performance by the fund amidst market variations.