AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, The Board of Directors of MCB-Arif Habib Savings & Investments Limited, the management company of MCB Cash Management Optimizer, convened at their Head Office in Karachi to approve the financial results for the year ended June 30, 2023.
The MCB Cash Management Optimizer has showcased robust financial performance during the mentioned period, highlighting its efficacy in delivering competitive returns. The approved financial results are as follows:
INCOME:
Capital Gain on Sale of Investments – Net: Rs. 181,611,000
Profit on Term Deposits Receipts: Rs. 238,787,000
Profit on Bank Deposits: Rs. 2,697,841,000
Income from Government Securities: Rs. 6,638,295,000
Income from Letter of Placement: Rs. 111,459,000
Income from Other Placement: Rs. 230,592,000
Income from Musharika: Rs. 25,480,000
Net Unrealized Diminution on Re-measurement of Investments Classified as Financial Assets at Fair Value through Profit or Loss: Rs. 192,817,000
Total Income: Rs. 10,033,238,000
EXPENSES:
Remuneration of MCB-Arif Habib Savings and Investments Limited – Management Company: Rs. 604,955,000
Sindh Sales Tax on Remuneration of Management Company: Rs. 212,947,000
Allocated Expenses: Rs. 9,428,283,000
Selling and Marketing Expenses: Rs. 3,817,064,000
Remuneration of Central Depository Company of Pakistan Limited – Trustee: Rs. 134,276,000
Sindh Sales Tax on Remuneration of Trustee: Rs. 9,428,283,000
Annual Fee to Securities and Exchange Commission of Pakistan: Rs. 3,738,393,000
Legal and Professional: Rs. 9,428,283,000
Brokerage, Settlement, and Bank Charges: Rs. 9,428,283,000
Auditors’ Remuneration: Rs. 9,428,283,000
Fees and Subscription: Rs. 9,428,283,000
Printing and Related Costs: Rs. 9,428,283,000
Total Operating Expenses: Rs. 2,950,290,000
NET INCOME FROM OPERATING ACTIVITIES:
Net Income from Operating Activities: Rs. 7,477,495,000
REVERSAL OF PROVISION:
Reversal of Provision for Sindh Workers’ Welfare Fund (SWWF): Rs. 43,557,000
NET INCOME BEFORE TAXATION:
Net Income before Taxation: Rs. 7,434,938,000
TAXATION:
Taxation: Rs. 100,733,000
NET INCOME AFTER TAXATION:
Net Income for the Year: Rs. 7,334,205,000
OTHER COMPREHENSIVE INCOME:
Other Comprehensive Income: Not disclosed
TOTAL COMPREHENSIVE INCOME:
Total Comprehensive Income for the Year: Rs. 7,334,205,000
The MCB Cash Management Optimizer’s impressive financial results demonstrate its commitment to optimizing cash management for investors while ensuring competitive returns on their investments. The fund’s prudent investment approach and efficient management by MCB-Arif Habib Savings & Investments Limited have contributed to its strong performance in a dynamic market environment.
The post MCB Cash Management Optimizer Reports Strong Financial Results for the Year Ended June 30, 2023 appeared first on Pakistan Company News.