BankIslami Pakistan Limited profits fall 40.93 percent to Rs. 38.831 million

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. 

Comparison of Key Financials

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.

Posted on: 2018-04-30T13:28:00+05:00