HMB posts impressive 59% growth in profits for 1QCY23

31 March 2023

31 March 2022

% Change

Mark-up/return/interest earned

44,847,935

23,744,171

88.88%

Mark-up/return/interest expensed

(30,803,625)

(15,806,948)

94.87%

Net mark-up/interest income

14,044,310

7,937,223

76.94%

NON-MARK-UP/INTEREST INCOME

Fee and commission income

2,159,099

1,899,555

13.66%

Dividend income

131,230

69,090

89.94%

Foreign exchange income

1,813,692

1,332,040

36.16%

Income/(loss) from derivatives

 -  

 -  

Gain /(loss) on securities

(142,402)

49,705

-

Other income

19,624

14,605

34.36%

Total non-mark-up/interest income

3,981,243

3,364,995

18.31%

Total income

18,025,553

11,302,218

59.49%

NON-MARK-UP/INTEREST EXPENSES

Operating expenses

(6,539,852)

(4,734,879)

38.12%

Workers Welfare Fund

(178,410)

(116,378)

53.30%

Other charges

(5)

(20,242)

-99.98%

Total non-mark-up/interest expenses

(6,718,267)

(4,871,499)

37.91%

Profit before provisions

11,307,286

6,430,719

75.83%

(Provisions)/reversal and write-offs - net

(1,050,252)

(408,299)

157.23%

Extra-ordinary / unusual items

 -  

 -  

Profit before taxation

10,257,034

6,022,420

70.31%

Taxation

(4,400,565)

(2,339,809)

88.07%

Profit after taxation

5,856,469

3,682,611

59.03%

Earnings per share - Basic and Diluted (in Rupees)

5.49

3.44

59.59%