UBL net profit up 24pc to Rs9.39bn in Jan-March

KARACHI: United Bank Ltd (UBL) on Wednesday reported a 24 percent rise in its quarterly net profit on an increase in the interest income.

In a statement to the Pakistan Stock Exchange, the bank reported a net profit of Rs9.394 billion for the quarter ended March 31, up from Rs7.585 billion the previous year.

The bank also announced an interim cash dividend of Rs5 per share.

Earnings per share (EPS) came in at Rs7.58 a share, compared with Rs6.21 a share during the same period last year. The company said its interest income for the quarter rose to Rs49.331 billion, compared with Rs32.930 billion a year earlier.

The non-mark-up income also rose to Rs6.775 billion during the period, compared with Rs6.255 billion.

Allied Bank quarterly profit rises 18pc

Allied Bank Ltd posted an 18 percent rise in its quarter net profit on an increase in the interest income.

In a statement to the Pakistan Stock Exchange, the bank reported a net profit of Rs4.849 billion for the quarter ended March 31, up from Rs4.111 billion the previous year.

The bank also announced an interim cash dividend of Rs2 per share.

Earnings per share (EPS) came in at Rs4.24 a share, compared with Rs3.59 a share during the same period last year. The company said its interest income for the quarter rose to Rs39.064 billion, compared with Rs23.774 billion a year earlier.

The non-mark-up income also increased to Rs4.246 billion during the period, compared with Rs4.067 billion.

HBL posts Rs8.614bn profit in Q1CY22

Habib Bank Ltd reported a 0.63 percent rise in its quarterly net profit on an increase in the interest income.

In a statement to the Pakistan Stock Exchange, the bank reported a net profit of Rs8.614 billion for the quarter ended March 31, up from Rs8.559 billion the previous year.

The bank also announced an interim cash dividend of Rs2.25 per share.

Earnings per share (EPS) came in at Rs5.78 a share, compared with Rs5.68 a share during the same period last year.

The company said its interest income for the quarter rose to Rs86.553 billion, compared with Rs63.462 billion a year earlier.

The non-mark-up income also increased to Rs10.361 billion during the period, compared with Rs8.222 billion.

Total non-mark-up expenses of the bank increased to Rs30.803 billion from Rs24.263 billion that decreased the profit margins.

The bank said its provisions during the quarter remained at Rs1.242 billion, down from Rs1.919 billion in the same period last year.

FCEPL reports 21pc revenue growth in 3 months

FrieslandCampina Engro Pakistan Limited (FCEPL) announced its financial results for the quarter ending March 31, showing a revenue of Rs14 billion with a growth of 20.7 percent against the last year.

The company reported the growth on by improvement in its portfolio mix, coupled with an increase in volumes of both, the dairy and beverages and the frozen desserts segments.

The gross margins of the company declined by 140bps, while the post-tax profit was recorded at Rs664 million in Q1CY22, against Rs547 million in the same period last year.

The dairy and beverages segment of the company reported revenue of Rs12.8 billion, registering a 19.5 percent growth year-over-year. With revenue of Rs1.2 billion, its frozen desserts segment reported a growth of 34.1 percent against the same period last year.