Share this story!            

Results of NBP, PPL

Staff Report

KARACHI: National Bank of Pakistan (NBP) earned profit after tax of Rs10.1 billion in first nine months of current calendar year against Rs 12 billion in the same months of last year.

The net profit of the bank translated into earnings per share of Rs 9.34 during the months under review against Rs 11.80 in the corresponding period of last year, a notice of Karachi Stock Exchange (KSE) announced Monday.

The decline in the net profit was mainly on account of lower non-interest income, higher provisioning and rising administrative charges.

Net interest income was recorded at Rs 28.7 billion, up 6 percent over Rs 26.956 billion in the same month of last year on the back of higher interest rates and spreads in the current period.

However, 31 percent YoY increase in provisions continued to dent the bottom line. Non interest income was down 11 percent YoY on account of lower dividend income from NIT.

Further, admin and other charges were recorded at Rs 16.2 billion, +17 percent YoY and continued to dampen profitability.

Pakistan Petroleum Limited (PPL): Pakistan Petroleum Limited (PPL) reported Rs 4.974 billion net profit in first quarter of the current fiscal against Rs 7.766 billion in the same quarter of last year.

According to announcement at Karachi Stock Exchange (KSE), earnings per share of the company declined to Rs 5 over Rs 7.70 in the previous year. Analysts attributed the decrease in the profit of the company to reduction in oil and wellhead gas prices during the period under review.

Net sales also dropped to Rs 12.187 billion during July-September of 2009-10 from Rs 15.805 billion in the same months of last year.

Home | Business

Share this story!