BankIslami observes a robust growth of Rs 998 million; Up by 6.2 times

MG News | October 24, 2019 at 01:17 PM GMT+05:00

0:00

October 24, 2019 (MLN): BankIslami Pakistan Limited has announced its financial results for the nine months ended on September 30, 2019. As per the results, it has posted its net profits to Rs 998 million( EPS: Rs 0.99); a robust growth by 6.2 compared to last year net profit of Rs 160 million (EPS: Rs 0.16).

The bank’s return earnings surged by 87.46%, YoY, moreover, its return expenses increased noticeably by 98.60%, YoY, resulting in rising of net return by 75.94%.

Total other income fell by 8.65% to Rs. 823 million, whereas, operating expenses and other charges jumped by 9.09% and 35.44% YoY, respectively.

Furthermore, the losses from BIPL Securities Limited decreased by 84.92%.

Profit and loss account for the Nine months ended September 30th 2019 ('000 Rupees)
	Sep-19	Sep-18	% Change
Profit/return earned	16,074,522	8,574,894	87.46%
Profit/return expensed	8,656,686	4,358,760	98.60%
Net Profit/return	7,417,836	4,216,134	75.94%
OTHER INCOME
Fee, commission and brokerage income	467,003	585,997	-20.31%
Dividend income	8,972	18,580	-51.71%
Foreign exchange income	139,592	135,807	2.79%
Gain on sale of securities	28,253	93,342	-69.73%
Other income	179,598	67,698
Total other income	823,418	901,424	-8.65%
	8,241,254	5,117,558	61.04%
OTHER EXPENSES
Operating expenses	5,391,566	4,942,422	9.09%
Workers Welfare Fund	31,746	1,934
Other charges	36,316	26,814	35.44%
Total other expenses	5,459,628	4,971,170	9.83%

Profit before provisions	2,781,626	146,388
Provision/(reversal of provision) and write offs-net	1,230,108	(17,076)
Extraordinary/ unusual items	-	-
(Loss)/profit for the period from BIPL Securities Limited - net of tax	(7,821)	(51,867)	-84.92%
Share of profit from associate before taxation	11,525	110,555	-89.58%
Profit before taxation	1,555,222	222,152
Taxation	556,496	61,823
Profit after taxation	998,726	160,329
Basic and diluted earnings per share (Rupees)	0.9927	0.1688

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	163,304.13 424.61M	-0.78% -1286.28
ALLSHR	99,380.97 1,038.42M	-0.94% -946.44
KSE30	49,842.51 138.16M	-0.73% -367.30
KMI30	238,104.17 78.33M	-0.14% -327.97
KMIALLSHR	65,590.95 485.77M	-0.66% -435.42
BKTi	45,705.29 72.87M	-2.08% -972.73
OGTi	32,671.23 13.00M	-0.23% -74.93

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	110,990.00	0.00 0.00	250.00 0.23%
BRENT CRUDE	65.69	66.78 65.41	-0.30 -0.45%
RICHARDS BAY COAL MONTHLY	80.50	0.00 0.00	-1.05 -1.29%
ROTTERDAM COAL MONTHLY	92.60	0.00 0.00	0.10 0.11%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	61.44	0.00 0.00	-0.06 -0.10%
SUGAR #11 WORLD	14.97	15.34 14.93	-0.32 -2.09%