Correction: An earlier version of this newspaper report published online incorrectly stated that the consolidated profit had plunged, not soared. The mistake occurred while drafting the print report online. The error is regretted.

KARACHI: Pakistan Telecommunication Company Ltd (PTCL) on Wednesday announced that its unconsolidated profit for the year ended Dec 31, 2017 jumped 22.3 per cent to Rs8.35 billion compared to Rs6.83bn last year.

The earnings per share (EPS) increased to Rs1.64 from Rs1.34 the previous year. The board did not declare a payout.

The improvement in company’s earnings is largely attributable to the absence of a Rs4.60bn sum that was charged under the “voluntary separation scheme” last year. Revenues stood at Rs69.8bn, down 2.24pc, from Rs71.4bn in 2016.

The consolidated profit of PTCL soared 168pc to Rs4.34bn from Rs1.62bn the year earlier.

WTL Returns to profit: WorldCall Telecom Ltd (WTL) announced financial results for the nine months ended Sept 30, 2017 posting a profit of Rs6.69bn (EPS at Rs7.45) compared to a loss of Rs1.82bn and loss per share at Rs2.31 in the preceding period last year.

The improved results stemmed from a huge jump in “other income” which stood at Rs8.20bn, up from Rs0.11bn. Revenue stepped up slightly to Rs1.70bn, from Rs1.22bn.

Bank Al Habib profit rises: Bank Al Habib (BAHL) earned a profit of Rs8.65 billion (EPS: Rs7.78) for the year ended Dec 31, 2017, registering an increase of 7 per cent year-on-year.

According to JS Research, earnings clocked in at Rs2.25bn in the fourth quarter alone, down 16pc year-on-year but was up 22pc quarter-on-quarter. A cash dividend of Rs3 per share was also declared.

The bank’s net interest income soared 12pc to Rs6.72bn during the fourth quarter of calendar 2017.

MEBL earns Rs5.6bn: Meezan Bank Ltd (MEBL) on Wednesday announced that its consolidated profit fell 9pc year-on-year to Rs5.62bn (EPS: Rs5.29) in 2017. In the 4th quarter 2017 alone, earnings clocked in at Rs1.15bn, down 38 per cent.

According to JS Research earnings came lower-than-expectations as the bank booked hefty provisioning expenses of Rs809m under loans in the 4th quarter, the highest in a single quarter.

Fee income grew 20pc during 4Q2017, taking full year growth in to 58pc year-on-year.

Published in Dawn, February 15th, 2018