KARACHI: Meezan Bank Ltd on Thursday announced that its profit-after-tax surged to a record Rs86.02 billion in 2023 compared to Rs45.14bn in 2022, an increase of 91 per cent.

The largest Islamic bank’s earnings per share reached Rs47.66 for the year as compared to Rs25.1 in 2022, on a consolidated basis. The board of directors also announced a final cash dividend of Rs8 per share.

PSO loss surges

The Pakistan State Oil’s loss-after-tax surged to Rs10.4 billion for the second quarter of FY24 from Rs2.083bn in the same period last fiscal year.

However, net sales rose to Rs962bn from Rs874bn in the above period.

The net sales of the state-owned oil giant during 1HFY24 soared to Rs1.92 trillion from Rs1.77tr in the same period last fiscal year, while the profit swelled to Rs14.7bn from Rs64m.

Published in Dawn, February 16th, 2024