Karachi: MCB Investment Management Limited has reported a significant increase in its financial performance for the fiscal year ending June 30, 2024, as detailed in its Annual Corporate Briefing presentation slated for November 20, 2024. The company achieved a profit after taxation of Rs. 861.30 million, a substantial rise from Rs. 378.22 million in the previous year, according to information available from the Pakistan Stock Exchange (PSX).

The company experienced an increase in its management fee and investment advisory fee, which amounted to Rs. 1,608.51 million, up from Rs. 1,100.96 million in the prior fiscal year. Processing income also saw a rise, reaching Rs. 193.74 million, compared to Rs. 93.78 million the previous year. Overall, the total income from these streams amounted to Rs. 1,802.25 million.

Despite an increase in administrative expenses rising to Rs. 778.36 million from Rs. 663.58 million, and selling and distribution expenses reaching Rs. 117.40 million, the company's operating profit still managed to grow to Rs. 697.85 million, up from Rs. 465.89 million in the previous year. Income from investments contributed a substantial Rs. 571.03 million, further bolstering the company's financial standing.

Profit before taxation was reported at Rs. 1,271.49 million, with taxation expenses accounting for Rs. 410.19 million, leading to a profit after taxation of Rs. 861.30 million. This resulted in earnings per share of Rs. 11.96, compared to Rs. 5.25 the previous year.

The company declared a total dividend of 60.0% for the fiscal year 2023-24, with an interim dividend of 35.0% and a final dividend of 25.0%, reflecting the company's strong financial health and commitment to providing returns to its shareholders.