KARACHI: Pakistan State Oil Company Ltd reported on Thursday it posted a profit after tax of Rs10.3 billion in the first nine months of 2022-23, down 84 per cent from the comparable period of the preceding fiscal year.
On a quarterly basis, its earnings clocked in at Rs13.6bn in January-March after declining 58pc from the same three-month period a year ago amid lower inventory gains, according to Arif Habib Ltd.
On a sequential basis, however, the oil marketing company became profitable again amid a revision of margins on the sale of petrol and diesel as well as an increase in the ex-refinery margins.
Meanwhile, Oil and Gas Development Company Ltd announced its net profit for the July-March period was Rs159.6bn, up 42pc from a year ago.
On a quarterly basis, its earnings in the third quarter of 2022-23 were Rs64.6bn after growing by 50pc on an annual basis. The company also announced a cash
dividend of Rs1.80 per share for the latest quarter, taking the total pay-out to Rs5.80 a share in the nine-month period.
Habib Bank Ltd reported its earnings for January-March remained Rs13.2bn, depicting an increase of 56pc from a year ago.
Arif Habib Ltd said the jump in earnings in the outgoing quarter was mainly led by higher net interest income. The bank also announced a dividend of Rs1.50 apiece for the quarter under review.
MCB Bank Ltd declared its net income for the first quarter of 2023 was Rs13.9bn, up 53pc from a year ago and 1pc from a quarter ago. The rise in earnings on an annual basis was because of a jump in its total income. Along with the result, the bank also announced a dividend of Rs6 per share.
National Bank of Pakistan Ltd said its net income for the first quarter of 2023 remained Rs11.2bn, depicting a jump of 16pc from a year ago. However, the profit number was down 3pc on a quarterly basis.
Earnings of Bank Alfalah Ltd for January-Mach increased 114pc year-on-year to Rs10.8bn. The earnings growth on a quarterly basis was 162pc. On a sequential basis, a decline in provisioning supported overall profitability, according to a note issued by Arif Habib Ltd.
Allied Bank Ltd said its net income for the January-March quarter remained at Rs7.7bn, portraying a jump of 58pc from a year ago. It was down from the preceding quarter by 11pc.
The net profit of Standard Chartered Bank Ltd for the first quarter of 2023 increased 30.1pc on a year-on-year basis to Rs9.2bn.
The Hub Power Company Ltd PAT grew 22pc to Rs11.2bn in January-March amounting. This took the nine-month profitability to Rs33.6bn, up by 57pc from a year ago. The company also announced a cash dividend of Rs2.75 per share.
Pakistan Petroleum Ltd recorded a net profit of Rs81.8bn for the first nine months of 2022-23, up 56pc from a year ago. The company’s bottom line in the latest quarter remained Rs32.8bn after rising by 60pc from a year back.
Attock Petroleum Ltd said its earnings for July-March clocked in at Rs9.8bn, down 13pc on a year-on-year basis. On a quarterly basis, income dropped 7pc to Rs4.3bn amid lower inventory gains.
Fauji Fertiliser Company Ltd recorded a net income of Rs7.7bn in January-March, up 24pc from a year ago. It also announced an interim cash dividend of Rs4.26 per share.
Pakistan Oilfields Ltd reported its net income for the 9MFY23 remained at Rs30.6bn, up 75pc from a year ago.
Published in Dawn, April 28th, 2023
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