This study proposes to examine the management of the comparative performance of the various groups an industrial scale unique opportunity from multiple perspectives. Descriptive analysis, Pearson correlation and analysis of variance (ANOVA) with post-hoc tests (less important difference) were used empirical research. The information is collected for financial statements of 200 company publishes quoted on the Karachi stock (KSE) for year 2009-2013. We found statistically significant relationship between the cash conversion cycle and profitability, measured by EBIT. The results of the study show that there is an important relationship in its investment policy and therefore corporation’s positive and corrosive policies of conservative financing. Long-run equilibrium relationships between the cash conversion cycle, a measure of ongoing liquidity management, and alternative measures of profitability are tested using both nonparametric and multiple regression analysis. It 'absolutely was discovered that the length of the CCC has negative relationship with sales revenue, return on equity (ROE) and financing policies of the companies. And the positive relationship with total assets, return on assets (ROA) and policies investment companies. The study explores the link between the length of CCC, firm size, firm profitability and / conservative policies in working capital aggressive five business groups. The policies of the working capital of the companies are classified as capital and investment policy of working capital of financing policy work. At the sensible implications of this study for the management of corporations think about the worth the length of CCC in formulating their policies due to the length of the CCC is closely associated with / conservative approaches businesses aggressive in Working capital. The Impact of this study is to examine the relationship between CCC working capital management practices and profitability of listed manufacturing firms in KSE. This study is first time is conducted in Pakistan to date thus for that has taken into all account of those variables simultaneously and tried to study their mutual relationships.