KARACHI: National Bank of Pakistan’s profit-after-tax jumped 23 per cent to Rs4 billion in the first quarter (January-March) of this calendar year over the same period last year. This translates into earnings per share of Rs1.90 as against Rs1.54 in the same quarter ended March 31, 2015. Pre- tax and after tax return on equity stand at 22.6pc and 14.8pc, respectively; whereas pre-tax and after tax return on assets are at 1.5 per cent and 1 per cent respectively.

Despite a general reduction in the discount rate during the year, the net interest income increased to Rs12bn in the quarter from Rs10.6bn same period last year, an increase of 14pc. The provision charge against the non-performing loans (NPLs) was significantly lower at Rs1.06bn compared to Rs3.05bn in 1Q2015.

Non mark-up or non- interest income decreased by 23pc to Rs6.5bn compared to Rs8.5bn for the 1Q2015. The drop is mainly attributed to the lower gains generated from sale of securities.

Byco posts Rs550m profit

Byco Petroleum Pakistan Ltd reported a net profit of Rs550 million for nine months ended March 31, said a company notice sent to the Pakistan Stock Exchange on Thursday.

The company posted net sales of Rs54 billion that resulted in an operating profit of Rs2.13bn. The company managed to recover with the return of relative stability in international crude oil prices.

The earnings per share stood at Rs0.56 as compared to a loss per share of Rs1.28 in the same period of previous year.

Published in Dawn, April 29th, 2016