KARACHI – NI(U)T has registered phenomenal growth of 74 percent in net profit which increased to 3,343 million, NIT-EMOF and NIT-SEF earning net profit of Rs. 345 million, and Rs. 2,959 million, and NIT GBF and NIT IF earning a net income of Rs. 214.9 million and Rs. 155.4 million respectively, NIT Chairman and MD Wazir Ali Khoja indicated this while announcing the results of all funds under management for the nine months ended on March 31, 2011.
During the period under review, NI(U)T has registered a phenomenal growth of 74 percent innet profit (excluding unrealised figures), which increased to Rs 3.34 billion, earning per unit of Rs. 2.85 from Rs 1.92 billion in 9MFY10 (earning per unit of Rs 1.84).
During the nine months of FY11, the Fund’s NAV increased by 21.91 percent from Rs 25.92 (Ex-Dividend) to Rs.31.60 and outperforming the benchmark index. The chairman also stated that in addition to the realisation of capital gains of Rs.548 million during the period under review, the Fund has earned a dividend income of Rs 1.57 billion, up 23 percent, as compared to Rs 1.28 billion in the corresponding period last year.
During the period under review, 4,909 new accounts were opened against 3,040 accounts opened in the corresponding period of last year, a growth of around 61 percent. With the opening of 4,909 new accounts, the total number of unit holders of NIT at the end of March 31, 2011 stood at 58,728. This shows the growing confidence of investors in NIT.
NIT notches up strong results
