Karachi: The Board of Directors of MCB Investment Management Limited announced substantial financial results for the Alhamra Wada Plans for the fiscal year ended June 30, 2024. According to the financial disclosures made public, the Alhamra Wada Plans have witnessed considerable growth in total income and profits.

For the fiscal year 2023-2024, Alhamra Wada Plan-VII experienced the highest total income among the plans with Rs. 63.36 million, a substantial increase from the previous year's Rs. 13.78 million. The total income for all the plans combined significantly rose to Rs. 305.79 million in 2024 from Rs. 63.36 million in 2023. According to information available from the Pakistan Stock Exchange (PSX), this increase was supported by net capital gains on sale of investments and profits on bank deposits.

Total expenses for the Alhamra Wada Plans also saw an increase with the management, selling and marketing, and other operational expenses amounting to Rs. 37.41 million in 2024 compared to Rs. 4.50 million in 2023. Despite the increase in expenses, the net income before taxation surged to Rs. 268.38 million, up from Rs. 58.66 million.

In terms of distributions, accounting income available for distribution after excluding capital gains showed significant growth. This amount was reported at Rs. 76.68 million in 2024, a notable increase from Rs. 25.16 million in 2023.

For the fiscal year ending June 30, 2023, the income primarily comprised of unrealized gains on re-measurement of investments and profit on bank deposits. These results underscore the effective investment strategies implemented by MCB Investment Management Limited, positioning Alhamra Wada Plans as lucrative options for investors looking for robust returns.