BankIslami Pakistan Limited (BIPL) today announced financial results for the three months period ending 31 March, 2018 reporting Profit/Return earned worth Rs. 2.856 billion. Furthermore, the company’s net income after provisions during the outgoing three months rose by 13.63 percent to reach 1.425 billion.
BIPl releases on the exchange show an abysmal performance during the last three months ending March, 2018. Fee, Brokerage and Commission Income during the quarter went down by 18.78 percent, income from foreign currencies soaring by 102.09 percent however (loss)/capital gain on sale of securities clocked in at Rs. 37.052 million during the period.
On the expenses front, BIPL total non-mark-up expenses increased by 11.18 percent taking away 1.562 billion from bottom-line profits. BankIslami Pakistan Limited reported profits after taxing at Rs. 38.831 million down 40.93 percent from 65.735 million last year.
Bank reported an EPS of Rs. 0.30385 vs. an EPS of Rs 0.0652 during the three months ending March, 2017.
Unconsolidated Profit and Loss Account – For the Three Months Ended, March 30th 2017 | |||
|---|---|---|---|
Key Financials | March, 2018 | March, 2017 | % Change |
Amounts in PKR ‘000 | |||
Profit/return earned | 2,856,609 | 2,480,247 | 15.17% |
Net spread after provisions | 1,425,118 | 1,254,128 | 13.63% |
Fee, commission and brokerage income | 170,564 | 210,002 | -18.78% |
Dividend Income | – | – |
|
Income from Foreign Currencies | 30,548 | 15,116 | 102.09% |
(Loss)/ gain on sale of securities – net | (37,052) | 11,428 | -424.22% |
Other income | 31,882 | 13,665 | 133.31% |
Total other income | 196,787 | 252,306 | -22.00% |
Administrative Expenses | 1,562,034 | 1,534,619 | 1.79% |
Other reversals – net | – | 131,652 |
|
Other charges | 50 | 2,084 | -97.60% |
Total other expenses | 1,562,084 | 1,405,051 | 11.18% |
Profit before Taxation | 59,821 | 101,383 | -41.00% |
Taxation | 20,990 | 35,648 | -41.12% |
Profit after Taxation | 38,831 | 65,735 | -40.93% |
EPS – Basic and diluted | 0.0385 | 0.0652 | -40.95% |
Company release on Earnings Report can be accessed here.
