Karachi: MCB Investment Management Limited, the management company of Pakistan Income Enhancement Fund, reported its financial results for the year ended June 30, 2024. The results were approved at a board meeting held on September 25, 2024, at 3:00 p.m. at the company's head office in Karachi.

The company declared a total income of PKR 1.06 billion for the fiscal year 2024, a significant increase compared to PKR 212.53 million in the previous year. According to information available from the Pakistan Stock Exchange (PSX), this rise was largely supported by income from government securities, bank term finance certificates, and gains on sale of investments.

Expenses for the year totaled PKR 109.22 million, with major costs including management company remuneration and various regulatory fees, compared to PKR 17.98 million last year. Despite these higher expenses, net income before taxation surged to PKR 956.08 million from PKR 194.55 million.

After accounting for taxation, the net income after taxation stood at PKR 956.08 million, maintaining the pre-tax level, thanks to tax adjustments. The comprehensive income for the year, which includes other comprehensive income, was also reported at PKR 956.08 million.

The earnings per unit (EPU), a measure of profitability, was not disclosed, as the management cited the impracticality of calculating the weighted average number of units.

The financial statement also highlighted the accounting income available for distribution, which amounted to PKR 510.92 million, excluding capital gains. This income is set aside for distribution among unit holders, showing a robust return on their investments.