UBL witnesses growth of 49% in net profits

Sep-19

Sep-18

% Change

Mark-up/return/interest earned

114,622,747

86,991,106

31.8%

Mark-up/return/interest expensed

68,165,602

43,553,484

56.5%

Net mark-up/return/interest income

46,457,145

43,437,622

7.0%

Non mark-up/interest income

Fee, commission and brokerage income

12,054,092

11,447,163

5.3%

Dividend income

784,488

1,045,814

-25.0%

Income from dealing in foreign currencies

3,484,894

2,843,801

22.5%

Income /Loss from derivatives

50,298

(8,958)

Gain on sale of securities - net

772,386

4,793,274

-83.9%

Other income

1,874,038

641,432

192.2%

Total non-mark-up /interest income

19,020,196

20,762,526

-8.4%

Total Income

65,477,341

64,200,148

2.0%

Non mark-up/interest expenses

Operating expenses

(31,811,389)

(30,733,737)

3.5%

Workers' Welfare Fund

(532,237)

(424,918)

25.3%

Other charges

(2,945)

(43,358)

-93.2%

Total non-mark-up/interest expenses

(32,346,571)

(31,202,013)

3.7%

Share of income/(loss) of associates

427,840

455,007

Profit before provisions

33,558,610

33,453,142

0.3%

Provisions and write offs-net

(5,706,877)

(7,988,618)

-28.6%

Extra ordinary/ unusual item- charges in respect of pension liability

-

(8,746,607)

Profit before taxation

27,851,733

16,717,917

66.6%

Taxation

(12,163,304)

(7,224,512)

68.4%

loss from discontinued operations- net of tax

(1,468,330)

-

Profit after taxation

14,220,099

9,493,405

49.8%

Earnings per share - basic and diluted (Rupees)

11.62

7.96

46.0%