KARACHI: Philip Morris Pakistan Ltd announced last week its net profit for the January-March quarter amounted to Rs1.15 billion, up 60 per cent from a year ago.

It announced on the stock exchange its quarterly revenue increased 20.4pc to Rs5.34bn. It reduced its distribution, marketing and administrative expenses in absolute terms over the period under review, which helped grow its bottom line. There was no declaration of a payout.

Standard Chartered earns Rs7bn: Standard Chartered Bank Pakistan Ltd told its shareholders last week its net profit for the first three months of 2022 amounted to over Rs7bn, up 2.2 times from a year ago.

The bank’s net interest income increased 36.4pc year-on-year while the non-interest income rose 2.6 times, thanks to an upswing on foreign exchange income, income from derivatives, and gains on securities.

It didn’t announce any dividend for shareholders.

Abbot’s earnings steady: Net income of Abbott Laboratories Pakistan Ltd for the January-March quarter clocked in at Rs1.44bn, almost unchanged from quarterly earnings recorded a year earlier.

In a regulatory filing with the stock exchange last week, the drug maker said its quarterly revenue amounted to Rs11.7bn, up 19pc from a year ago. It didn’t announce any cash dividend.

Published in Dawn, May 1st, 2022