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Karachi, The Board of Directors of MCB-Arif Habib Savings & Investments Limited gathered at their Head Office to announce the financial results of MCB DCF Income Fund for the fiscal year ended June 30, 2023.
Despite economic challenges, MCB DCF Income Fund showcased strong financial performance, reflecting effective investment strategies and prudent risk management. The approved financial results are as follows:
INCOME:
Profit on Bank Deposits and Term Deposit Receipts: Rs. 188,414,000
Income from Government Securities: Rs. 754,669,000
Income from Term Finance Certificates and Sukuk Certificates: Rs. 150,273,000
Dividend Income: Not disclosed
Income from Letter of Placements: Rs. 737,000
Income from Spread Transactions Net: Rs. 19,687,000
Net Loss on Sale of Investments: Rs. (27,557,000)
Profit on Margin Trading System: Rs. 4,510,000
Unrealized (De) Appreciation on Re-measurement of Investments classified as Financial Assets at Fair Value through Profit or Loss Net: Rs. (35,874,000)
Other Income: Rs. 2,374,000
Total Income: Rs. 1,033,036,000
EXPENSES:
Remuneration of MCB-Arif Habib Savings & Investments Limited Management Company: Rs. 88,008,000
Sindh Sales Tax on Remuneration of the Management Company: Rs. 11,441,000
Allocated Expenses: Rs. 5,867,000
Selling and Marketing Expenses: Rs. 23,937,000
Remuneration of Central Depository Company of Pakistan Limited Trustee: Rs. 4,400,000
Sindh Sales Tax on Remuneration of the Trustee: Rs. 575,000
Annual Fee to the Securities and Exchange Commission of Pakistan: Rs. 1,180,000
Auditors’ Remuneration: Rs. 974,000
Brokerage, Settlement, and Bank Charges: Rs. 3,002,000
Legal and Professional Charges: Rs. 174,000
Fees and Subscription: Rs. 537,000
Printing and Related Costs: Rs. 39,000
Total Expenses: Rs. (140,131,000)
NET INCOME FROM OPERATING ACTIVITIES:
Net Income from Operating Activities: Rs. 892,905,000
REVERSAL OF PROVISION:
Reversal of Provision for Sindh Workers’ Welfare Fund: Rs. 42,902,000
NET INCOME BEFORE TAXATION:
Net Income for the Year Before Taxation: Rs. 892,905,000
NET INCOME AFTER TAXATION:
Net Income for the Year After Taxation: Rs. 892,905,000
OTHER COMPREHENSIVE INCOME:
Other Comprehensive Income: Not disclosed
TOTAL COMPREHENSIVE INCOME FOR THE YEAR:
Total Comprehensive Income for the Year: Rs. 892,905,000
The MCB DCF Income Fund’s impressive financial performance is expected to instill confidence in investors amidst the ongoing economic recovery.
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