Karachi: MCB Investment Management Limited announced robust financial results for the Pakistan Capital Market Fund for the fiscal year ended June 30, 2024. The details, revealed during a Board of Directors meeting on September 25, 2024, at the company's head office in Karachi, highlight significant income growth and operational efficiency.

The Pakistan Capital Market Fund registered a total income of PKR 248.23 million in 2024, marking an increase from the PKR 30.00 million reported in the previous fiscal year. This growth is primarily attributed to gains on the sale of investments and increased income from governance securities, bank deposits, and certificates of profit.

Expenses for the year were rigorously managed, amounting to PKR 22.70 million, slightly up from PKR 12.61 million in 2023. These expenses included remuneration of the management, sales and marketing costs, and regulatory fees among others. Despite the rise in expenses, net income before taxation soared to PKR 227.84 million, significantly higher than the PKR 12.61 million reported in the previous year.

According to information available from the Pakistan Stock Exchange (PSX), the net income after taxation stood impressively at PKR 227.84 million. The company's operational strategy allowed for a net comprehensive income of the same value, maintaining a strong performance throughout the fiscal period.

The allocation of net income details further outlines the fund's financial strategy; PKR 140.85 million was retained as income for the year, with the remaining PKR 186.98 million available for distribution, signifying robust fund management and investor confidence.

MCB Investment Management has not disclosed earnings per unit, citing the impracticability of calculating a weighted average number of units. This decision underscores the company’s focus on ensuring precise financial reporting and compliance with regulatory standards.