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Karachi, The Board of Directors of MCB-Arif Habib Savings & Investments Limited convened for a meeting at Karachi to announce the financial results of Pakistan Income Enhancement Fund for the fiscal year ended June 30, 2023.
The Pakistan Income Enhancement Fund showcased a robust financial performance, driven by prudent investment decisions and strategic income generation. The approved financial results are as follows:
INCOME:
Interest Income from Government Securities: Rs. 112,523,000
Interest Income from Term Finance Certificates: Rs. 194,549,000
Profit on Bank Deposits: Rs. 194,549,000
Capital Gain (Loss) on Sale of Investments Net: Not disclosed
Dividend Income: Rs. 194,549,000
Income on Spread Income: Rs. 194,549,000
Profit on Margin Trading System: Rs. 194,549,000
Unrealized (De)Appreciation on Re-Measurement of Investments classified as Financial Assets at Fair Value through Profit or Loss Net: Rs. (73,134,000)
Other Income: Rs. 121,115,000
Total Income: Rs. 1,111,157,000
EXPENSES:
Remuneration of MCB-Arif Habib Savings & Investments Limited Management Company: Rs. 18,484,000
Sindh Sales Tax on Remuneration of the Management Company: Rs. 92,673,000
Allocated Expenses: Rs. 9,434,000
Selling and Marketing Expenses: Rs. 102,107,000
Remuneration of Central Depository Company of Pakistan Limited Trustee: Rs. 102,107,000
Sindh Sales Tax on Remuneration of the Trustee: Rs. 102,107,000
Annual Fee to the Securities and Exchange Commission of Pakistan: Rs. 102,107,000
Securities Transaction Cost: Rs. 102,107,000
Fees and Subscription: Rs. 102,107,000
Legal and Professional Charges: Rs. 102,107,000
Auditors’ Remuneration: Rs. 102,107,000
Bank Charges: Rs. 102,107,000
Other Expenses: Rs. (45,606,000)
Total Expenses: Rs. 856,104,000
NET INCOME FROM OPERATING ACTIVITIES:
Net Income from Operating Activities: Rs. 255,053,000
REVERSAL OF PROVISION:
Reversal of Provision for Sindh Workers’ Welfare Fund: Rs. 18,484,000
NET INCOME BEFORE TAXATION:
Net Income for the Year Before Taxation: Rs. 273,537,000
NET INCOME AFTER TAXATION:
Net Income for the Year After Taxation: Rs. 273,537,000
OTHER COMPREHENSIVE INCOME:
Other Comprehensive Income: Not disclosed
TOTAL COMPREHENSIVE INCOME FOR THE YEAR:
Total Comprehensive Income for the Year: Rs. 273,537,000
The Pakistan Income Enhancement Fund’s impressive performance is expected to attract investors seeking steady returns amid the economic recovery.
The post Pakistan Income Enhancement Fund Records Robust Financial Performance for FY2023 appeared first on Pakistan Company News.