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Karachi, The Board of Directors of MCB-Arif Habib Savings & Investments Limited, the management company of Alhamra Daily Dividend Fund, convened at their Head Office in Karachi to approve the financial results for the year ended June 30, 2023.
The Alhamra Daily Dividend Fund demonstrated robust financial performance during the mentioned period. The approved financial results are as follows:
INCOME:
Profit on Balances with Banks: Rs. 452,588,000
Profit on Investments: Rs. 141,532,000
Total Income: Rs. 594,120,000
EXPENSES:
Remuneration of the Management Company: Rs. 43,597,000
Sindh Sales Tax on Remuneration of the Management Company: Rs. 12,810,000
Back Office Operation Expense: Rs. 1,665,000
Marketing and Selling Expense: Rs. 503,000
Brokerage Expense on Money Market Transaction: Rs. 682,000
Total Expenses: Rs. 15,664,000
NET INCOME:
Net Income for the Year from Operations: Rs. 550,523,000
REVERSAL OF PROVISION:
Reversal of Provision for Sindh Workers’ Welfare Fund (SWWF): Rs. 7,515,000
NET INCOME BEFORE TAXATION:
Net Income for the Year Before Taxation: Rs. 550,523,000
TAXATION:
Taxation: Not disclosed
NET INCOME AFTER TAXATION:
Net Income for the Year After Taxation: Rs. 550,523,000
OTHER COMPREHENSIVE INCOME:
Other Comprehensive Income for the Year: Not disclosed
TOTAL COMPREHENSIVE INCOME:
Total Comprehensive Income for the Year: Rs. 550,523,000
The financial results reflect the Alhamra Daily Dividend Fund’s prudent investment approach and effective management by MCB-Arif Habib Savings & Investments Limited. The fund’s strong performance underscores its commitment to delivering attractive returns to investors in the form of daily dividends, making it an appealing investment choice in the market.
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