Karachi: The Board of Directors of MCB Investment Management Limited, the management company of Alhamra Islamic Stock Fund, approved the financial results for the fiscal year ended June 30, 2024, during their meeting at the head office in Karachi on September 25, 2024.

The financial results revealed that total income for the year stood at 2.15 billion Rupees, showing a significant increase from the previous year's 976.27 million Rupees. This substantial rise is attributed mainly to profits on savings accounts with banks, dividend income, and net realized gain on the sale of investments.

According to information available from the Pakistan Stock Exchange (PSX), the company's net income before taxation reached 2.01 billion Rupees, reversing the previous year’s loss of 20.15 million Rupees. This turnaround was greatly influenced by the improved total income, despite a rise in total expenses, which amounted to 148.80 million Rupees compared to 117.83 million Rupees in the previous fiscal year.

The document detailed that the net income after taxation for the year also recorded at 2.01 billion Rupees. The results highlighted that no earnings per unit were disclosed due to the impracticability of calculating a weighted average number of units.

MCB Investment Management Limited managed a diverse portfolio within the regulatory framework of the Financial Management Act of Pakistan, ensuring the Islamic compliance of the Alhamra Islamic Stock Fund's investments. The financial disclosures will be shared with the members of the exchange, as noted in the meeting's minutes.