October 26, 2018 (MLN): JS Bank Limited (JSBL)’s profits for the nine months ended September 30, 2018 have gone up by nearly 81.34% over the corresponding period of last year.
According to the company’s financial earnings report for the period shows that its net mark-up/interest income after provisions grew by 60.35% or Rs.2.5 billion over the 3 quarters.
Meanwhile, as gain on sales of securities reduced by 183.65% (Rs1.1 billion) it weighed down total non-mark-up/interest by 19.76%.
On the flip side, administrative expenses mounted substantially, by Rs.1.5 billion.
JSBL’s overall profit for the period witnessed significant growth.
Apart from this, the company’s basic earnings per share have increased from Rs.0.22 per share to Rs.0.46 per share.
|
Condensed Interim Profit or Loss Account for the Quarter Ended September 30th 2018 (Rupees) |
|||
|---|---|---|---|
|
|
Sep-18 |
Sep-17 |
% Change |
|
Mark-up/return/interest earned |
21,612,768 |
14,186,456 |
52.35% |
|
Mark-up/return/interest expensed |
14,968,714 |
9,811,417 |
52.56% |
|
Net mark-up interest income |
6,644,054 |
4,375,039 |
51.86% |
|
(Provision)/reversal against non-performing loans and advances – net |
(173,703) |
(220,666) |
-21.28% |
|
Reversal for diminution in the value of investments – net |
191,116 |
– |
|
|
Bad debts written off directly |
– |
– |
|
|
Net mark-up interest income after provisions |
6,661,467 |
4,154,373 |
60.35% |
|
NON MARK-UP/INTEREST INCOME |
|
|
|
|
Fee, commission and brokerage income |
2,001,267 |
1,560,908 |
28.21% |
|
Dividend income |
72,483 |
100,557 |
-27.92% |
|
Income from dealing in foreign currencies |
572,390 |
250,871 |
128.16% |
|
Gain on sale/redemption of securities – net |
(523,509) |
625,803 |
-183.65% |
|
Unrealized loss of revaluation of investments classified as held-for-trading – net |
(7,673) |
335 |
|
|
Share of profit from associates |
– |
– |
|
|
Other income/ (loss) – net |
9,317 |
108,941 |
-91.45% |
|
Total non-mark-up/interest income |
2,124,275 |
2,647,415 |
-19.76% |
|
NON MARK-UP/INTEREST EXPENSES |
|
|
|
|
Administrative expenses |
7,476,200 |
5,947,118 |
25.71% |
|
Other provisions/write-offs |
57,071 |
– |
|
|
Other charges |
25,276 |
29,536 |
-14.42% |
|
Total non-mark-up/interest expenses |
7,558,547 |
5,976,654 |
26.47% |
|
Extra-ordinary/unusual items |
– |
– |
|
|
Profit before taxation |
1,227,195 |
825,134 |
48.73% |
|
Taxation |
(471,025) |
(408,135) |
15.41% |
|
Profit after taxation |
756,170 |
416,999 |
81.34% |
|
Basic and diluted earnings per share – (rupees) |
0.46 |
0.22 |
109.09% |
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