Earnings: NIT announces half-yearly results

NIT-State Enterprise Fund posted net profit of Rs2.03b in first half of fiscal 2012.

KARACHI:

National Investment Trust has announced its half-year results with net asset value of most funds decreasing, however, they outperformed the Karachi Stock Exchange (KSE) benchmark 100-share index during the period under review.

The NI(U)T Fund’s net asset value decreased by 7.96% to Rs25.90 on December 31, 2011 from Rs28.14 on June 30, 2011, outperforming the KSE-100 benchmark index’s fall by 1.23%, says a press release. NI(U)T registered a net profit of Rs2,77 billion compared with Rs2.76 billion in the same period during the preceding year. NIT Chairman Wazir Ali Khoja also stated that during the first half of fiscal 2012, the dividend income earned by the fund grew by 28% on a yearly basis and stood at Rs1,166 million as compared to Rs911 million in the corresponding period last year.

The NIT-State Enterprise Fund’s (NIT-SEF) NAV decreased to Rs80.25 from Rs84.21, outperforming the benchmark KSE-100 index by 4.5%. During the period under review, the fund earned a net profit of Rs2.03 billion in the first of fiscal 2012 against net profit of Rs2.06 billion earned in the first of fiscal 2011.

Published in The Express Tribune, February 7^th, 2012.