KARACHI, Oct 31: Three of the heavyweights — National Bank of Pakistan (NBP), Muslim Commercial Bank (MCB) and Pakistan State Oil (PSO) — were among 17 companies that announced results on the last day of the mandatory period of one month from the end of quarter ending Sept 30.
National Bank posted a profit after tax at Rs8,707 million for nine months (Jan-Sept 2005), representing a growth of 108.75 per cent from Rs4,171 million in the corresponding period last year. Pre-tax profit increased 85.7 per cent to Rs13,074 million from Rs7,040 million in the same period of the previous year.
Total revenue of NBP has increased by 54.4 per cent to Rs23,313 million from Rs15,101 million. For nine months, earning per share (eps) worked out at Rs14.74 compared to Rs7.06 in the same time last year. Analysts said the results were slightly better than expectations and the NBP stock gained Rs7.25 to hit Rs153.10 on Monday, with trading seen in 23.7 million shares.
Muslim Commercial Bank reported a profit after tax at Rs5,383 million in nine months of 2005, representing an increase of 176 per cent from Rs1,950 million in the same period of 2004. Net profit for the quarter before tax was up by 146 per cent to Rs7,733 million from Rs3,141 million.
Total income of MCB rose by 55.4 per cent to Rs15.7 billion from Rs10.1 billion. The board declared a second interim cash dividend at Rs1.50 (15 per cent). The MCB stock shed Rs3 on Monday to close at Rs146.80 on 16.6 million shares.
Pakistan State Oil said it had declared a cash dividend at Rs6 per share (60 per cent). Sales revenue for 1QFY06 (July-Sept) stood at Rs71 billion, showing a growth of 19 per cent over the same prior last year. Profit before tax amounted to Rs4 billion and profit after tax at Rs2.5 billion, which were higher by 112 and 109 per cent, respectively.
Jahangir Siddiqui Capital Markets Limited (JSCM) has stated in a press release that the company declared a profit after tax of Rs51.4mn for 1QFY06, showing a mammoth growth of 422 per cent compared to Rs9.9mn during the corresponding period last year. Earnings per share for 1QFY06 arrived at Rs5.14 as against Rs0.99. Operating revenues of the company jumped by 246 per cent and reached Rs93.7m versus Rs27.1m a year earlier. The share in JSCML rose by Rs3.70 on Monday to close at Rs77.70 ex-bonus.
Pakistan Industrial Credit and Investment Corporation Limited (PICIC) said it had announced 20 per cent bonus shares. PICIC recorded an after tax profit of Rs752.88 million for the 3rd quarter ending September 30, 2005, as compared with Rs491.96 million in the corresponding period last year.
For nine months, PICIC reported an after tax profit at Rs1,385 million as compared to Rs1,323 million at the end of September 30, 2004.