Mahaana Islamic Index ETF Reports Rs140.38 Million Loss for September 2026 Quarter
Mahaana Wealth Limited has announced the financial results of its Mahaana Islamic Index Exchange Traded Fund (MIIETF) for the quarter ended September 30, 2026, reporting a net loss of approximately Rs140.38 million.
According to a notice submitted to the Pakistan Stock Exchange (PSX) on November 3, 2026, the Board of Directors of Mahaana Wealth Limited approved the fund’s financial results at a meeting held on November 2, 2026.
MIIETF Reports Quarterly Loss
The fund recorded a net loss after taxation of Rs140.38 million during the quarter ended September 30, 2026, compared with a net profit of approximately Rs153.66 million in the corresponding quarter of the previous year.
The negative financial performance was largely influenced by unrealised losses on investments, which amounted to approximately Rs116.34 million during the reporting period. This contrasted with an unrealised gain of approximately Rs130.24 million recorded in the same quarter of 2025.
The fund generated dividend income of approximately Rs17.95 million and profit on savings accounts of around Rs2.78 million during the quarter. However, the negative investment performance outweighed these income streams.
Total expenses stood at approximately Rs6.99 million, compared with Rs1.62 million in the corresponding period last year.
Net Assets and Fund Performance
The financial statements show that MIIETF’s net assets stood at approximately Rs1.98 billion as of September 30, 2026, compared with Rs1.99 billion at June 30, 2026.
The fund’s total assets were reported at approximately Rs1.99 billion, while total liabilities amounted to around Rs9.05 million.
The number of units issued increased to 122.92 million from 115.19 million at the end of June 2026, indicating an increase in the fund’s outstanding units.
However, the net asset value (NAV) per unit declined to Rs16.09 as of September 30, 2026, compared with Rs17.23 at June 30, 2026.
Cash Flow Position
The fund’s cash flow statement also highlighted its financial activities during the quarter. Net cash used in operating activities amounted to approximately Rs106.92 million.
Meanwhile, financing activities generated net cash inflows of approximately Rs31.69 million. Cash and cash equivalents stood at approximately Rs24.99 million at the end of September 2026, compared with Rs96.23 million at the beginning of the period.
Market Implications
The latest results provide investors with an update on the financial position and investment performance of Mahaana Islamic Index Exchange Traded Fund. The decline in NAV per unit and the reported quarterly loss highlight the impact that investment valuation changes can have on an exchange-traded fund’s performance.
For investors monitoring MIIETF, the fund’s future performance will remain an important consideration, particularly the movement in its underlying investments, dividend income and overall market conditions.
The financial results were approved by the Board of Directors of Mahaana Wealth Limited and submitted to the Pakistan Stock Exchange in accordance with the company’s disclosure requirements.
The figures are based on the unaudited financial statements for the quarter ended September 30, 2026. They should not be interpreted as a guarantee of future investment performance.
