August 24, 2022 (MLN): BankIslami Pakistan Limited (BIPL) has made profits of Rs1.45 billion for the half-year ended on June 30, 2021, depicting an increase of 42.4% YoY compared to Rs1.02bn in the same period last year, the company filing on PSX showed today.
This has translated into earnings per share (EPS) of Rs1.3 for the period which is around 42% higher than the EPS recorded in 1HFY21.
According to the financial statement issued to PSX, the net return of the bank soared by 55.68% YoY to 7.92bn in 1HFY22.
Similarly, the total other income has surged by 98.14% on the back of higher foreign exchange income (up by 3.5x) coupled with a jump in other income by manifold to stand at Rs358mn in the review period.
In addition, the bank witnessed a provision worth Rs1.36bn against the provision reversal of Rs267.27mn during 1HFY21.
Owing to the higher interest rate, the bank saw a surge of 75.74% in terms of taxes paid in 1HFY22, compared to Rs717.73mn in the same period last year.
|
Consolidated Profit and Loss Account for the Half Year ended June 30, 2022 ('000 Rupees) |
|||
|---|---|---|---|
|
|
Jun-22 |
Jun-21 |
% Change |
|
Profit/return earned |
18,370,569 |
10,948,721 |
67.79% |
|
Profit/return expensed |
10,452,343 |
5,862,446 |
78.29% |
|
Net Profit/return |
7,918,226 |
5,086,275 |
55.68% |
|
OTHER INCOME |
|
|
|
|
Fee and commission income |
729,150 |
611,204 |
19.30% |
|
Dividend income |
12,565 |
9,048 |
38.87% |
|
Foreign exchange income |
591,381 |
169,579 |
248.73% |
|
Gain on sale of securities |
18,725 |
28,941 |
-35.30% |
|
Other income |
358,003 |
44,163 |
710.64% |
|
Total other income |
1,709,824 |
862,935 |
98.14% |
|
Total income |
9,628,050 |
5,949,210 |
61.84% |
|
OTHER EXPENSES |
|
|
|
|
Operating expenses |
5,512,865 |
4,484,473 |
22.93% |
|
Workers Welfare Fund |
53,951 |
40,934 |
31.80% |
|
Other charges |
7,701 |
2,055 |
274.74% |
|
Total other expenses |
5,574,517 |
4,527,462 |
23.13% |
|
Profit before provisions |
4,053,533 |
1,421,748 |
185.11% |
|
Provision/(reversal of provision) and write offs-net |
1,355,962 |
(267,278) |
– |
|
Share of profit/ (loss) from associate – net of tax |
9,819 |
43,858 |
77.61% |
|
Profit before taxation from continuing operations |
2,707,390 |
1,732,884 |
56.24% |
|
Taxation |
1,261,314 |
717,731 |
75.74% |
|
Profit after taxation from continuing operations |
1,446,076 |
1,015,153 |
42.45% |
|
Basic and diluted earnings per share for profit from continuing operations attributable to the ordinary equity holders of the bank (Rupees) |
1.3 |
0.91 |
41.98% |
Copyright Mettis Link News
Posted on:2022-08-24T15:56:54+05:00
34751
