How did IOR's net profit surge in Q4 2023?

Income Opportunity Realty Investors (IOR) saw a notable increase in net income in Q4 2023, primarily driven by a rise in advisory fees, which offset the decline in interest income. 1. **Increase in Advisory Fees**: The company reported an increase in advisory fees, which contributed to the overall net income. This suggests that IOR may have generated more fees from its advisory services compared to the previous year. 2. **Decrease in Interest Income**: Despite the increase in advisory fees, net income saw a decrease due to a reduction in interest income. This indicates that the company earned less interest on its investments compared to the same period in the previous year. 3. **Overall Net Income Comparison**: When comparing Q4 2023 with Q4 2022, IOR's net income decreased from $2.47 million to $1.1 million, a significant drop. This reduction is mainly attributed to the change in interest income and advisory fees. In summary, IOR's net profit surge in Q4 2023 was primarily driven by a rise in advisory fees, which helped offset the decrease in interest income.