KARACHI: Meezan Bank Ltd posted its highest-ever quarterly profit in April-June as its consolidated earnings amounted to Rs17.3 billion, up 120 per cent from a year ago.

Its net profit rose 12pc from the preceding quarter mainly on the back of higher income and lower provisioning, said Arif Habib Ltd. The bank also announced a dividend of Rs4 per share.

Separately, Bank Alfalah Ltd declared on Thursday its net profit for April-June remained Rs7.8bn, depicting an increase of 110pc from a year ago.

However, the quarterly earnings were down 27pc from the preceding three-month period.

Arif Habib Ltd said earnings were supported by higher interest income but a significant jump in provisioning dented the quarterly bottom line.

The bank also announced a dividend of Rs3 per share. Engro Polymer and Chemicals Ltd told investors on Thursday its earnings in April-June remained Rs1.6bn, up 32pc from the preceding quarter.

“This growth is primarily attributed to the availability of local gas and uptake growth during the quarter,” said AKD Securities Ltd.

The company also announced an interim dividend of Rs1.50 per share, bringing the half-yearly pay-out to Rs2.50 per share.

Published in Dawn, August 11th, 2023

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Slow start
Updated 15 Jun, 2024

Slow start

Despite high attendance, the NA managed to pass only a single money bill during this period.
Sindh lawlessness
Updated 15 Jun, 2024

Sindh lawlessness

A recently released report describes the law and order situation in Karachi as “worryingly poor”.
Punjab budget
15 Jun, 2024

Punjab budget

PUNJAB’S budget for 2024-25 provides much fodder to those who believe that the increased provincial share from the...
Budget and politics
Updated 14 Jun, 2024

Budget and politics

PML-N, scared of taking bold steps lest it loses whatever little public support it has, has left its traditional support — traders — virtually untouched.
New talks?
14 Jun, 2024

New talks?

WILL this prove another false start, or may we expect a more sincere effort this time? Reference is made to the...
A non-starter
14 Jun, 2024

A non-starter

WHILE the UN Security Council had earlier this week adopted a US-backed resolution calling for a ceasefire in Gaza...