LETTER OF TRANSMITTAL

Date: 09-12-2010

Nawaz Ahmed,
Iqra University,
Karachi-

Respected Sir,

We are very pleased to submit to you the research paper on “Effect of

Financial and Operating Leverage on Firm Profitability; a study of firms listed on
Karachi Stock Exchange”
This research paper has been prepared with great efforts and dedication, in
compliance with course requirement and your instructions. We hope that this
onerous task on my part will be appreciated.
Now that the research is complete, it can be viewed for assessment.

We hope that this research is acceptable to you. As a team, we found this

work of doing the research interesting and challenging. Hopefully, this
research would also be informative as well.

Sincerely Yours,

Usama Aamir (Group leader)

Ovais Latif
Sarim Javed
Rizwan Hussain
Muhammad Faisal