Karachi: The Board of Directors of MCB Investment Management Limited has officially announced the financial outcomes for its managed entity, Alhamra Cash Management Optimizer, for the fiscal year ending June 30, 2024. The results showcase a significant improvement in profitability and a notable increase in total income, demonstrating strong performance in investment returns.

The financial statement, approved on September 25, 2024, at the company's head office, indicated that Alhamra Cash Management Optimizer garnered a total income of PKR 2.14 billion for the year spanning from May 23, 2023, to June 30, 2024. This marks a considerable rise from the PKR 62.68 million recorded in the previous year.

According to information available from the Pakistan Stock Exchange (PSX), the breakdown of income sources includes a hefty profit on investments amounting to PKR 1.08 billion and additional gains through capital gains on the sale of investments and profits on deposits with banks.

On the expenditure front, MCB Investment Management Limited reported total operating expenses of PKR 112.74 million, a slight increase compared to last year's PKR 3.49 million. The substantial components contributing to expenses were the remuneration of MCB Investment Management Limited and various taxes and fees associated with regulatory compliance and securities transactions.

The financial documents also detailed a net income before taxation of PKR 2.03 billion, translating into a net income after taxation of PKR 1.47 billion. This year's results also included an other comprehensive income, rounding the total comprehensive income for the year at PKR 2.03 billion.

This robust financial performance reflects effective investment strategies and prudent management practices that have contributed to the substantial growth in income and profitability for the firm.