Habib Bank earns Rs9.9bn profit

Published October 26, 2018
The board declares a dividend of Rs1 per share (10 per cent), bringing the nine month dividend to Rs3 per share.— File
The board declares a dividend of Rs1 per share (10 per cent), bringing the nine month dividend to Rs3 per share.— File

KARACHI: Habib Bank Ltd (HBL) declared consolidated 9MCY18 profit after tax (PAT) of Rs9.9 billion, with earnings per share (EPS) of Rs6.57, said a press release issued by the bank on Thursday.

The board declared a dividend of Rs1 per share (10 per cent), bringing the nine month dividend to Rs3 per share.

Profit before tax for the period was Rs17.7bn. The consolidated Capital Adequacy Ratio (CAR) as of Sept 30 was over 17pc, an increase of 105 basis points over December 2017, while the Bank’s tier-1 CAR rose by 75bps to 12.74pc.

Silk Bank PAT surges 80pc

Silk Bank Ltd posted 1QFY19 profit after tax (PAT) at Rs489.36 million, up 79.5pc, from Rs272.63m in same period last year. This translated into earnings per share (EPS) of Rs0.05 for the period, from Rs0.03.

ICI Pakistan records Rs546m profit

ICI Pakistan Ltd announced PAT for the quarter ended Sept 30 at Rs546m, lower by 34pc than same period last year, mainly due to higher finance cost and taxation expenses.

Net turnover grew 17pc to Rs13,299m, which the company said in a statement was due to higher revenues mainly in the polyester, and soda ash businesses, which increased by 27pc and 43pc, respectively. This was partially offset by lower revenues in the life sciences and chemicals and agri sciences.

On an unconsolidated basis, earnings for the quarter stood at Rs658m, decreasing by 11pc from corresponding quarter last year.

DGKC profits plunge 85pc

DG Khan Cement Company (DGKC) posted 1QFY19 PAT at Rs418m (EPS: Rs0.95), down 85pc, from Rs2,837m (EPS: 6.48) in same period last year.

Topline during the period witnessed an uptick of 9pc to Rs 8.19bn, from Rs7.53bn amid 9pc jump in total offtake to 1.23m tonnes. Finance costs escalated by 590pc to Rs612m in the quarter under review due to higher borrowing.

OGDC earnings jump 57pc

Oil and Gas Development Company (OGDC) unveiled 1QFY19 earnings of Rs26,735m (EPS: Rs6.22), up 57pc, over Rs17,010m (EPS: Rs3.95) in 1QFY18.

The board announced a dividend of Rs2.75 per share. Net Sales surged 41pc to Rs61,799m against 43,962m in same period last year on the back of; growth in gas production by 26pc YoY; hike in oil prices by 54pc and 18pc rupee devaluation against the dollar.

Byco Petroleum PAT soars

Byco Petroleum Pakistan Ltd on Thursday announced FY18 PAT of Rs5.02bn, surging by 130pc, from Rs2.18bn last fiscal year.

This translated into EPS of Rs0.94, up from Rs0.41, depicting an increase of 129pc. The company’s operating profit also rose 128pc from Rs3.61bn to Rs8.25 billion in FY18.

The strong growth in profits came as sales volume climbed by 60pc and gross turnover increased 86pc to the highest-ever level of Rs215bn.

Published in Dawn, October 26th, 2018

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