KARACHI: United Bank Ltd said on Wedn­esday its consolidated profit for October-Dece­mber remained Rs13.3 billion, up 52 per cent from a year ago.

The bank also anno­unced a cash dividend of Rs9 per share, taking the full-year dividend to Rs22 per share.

Its annual income incr­eased 5pc in 2022 to Rs32bn.

The bank’s net interest income for 2022 clocked in at Rs257.8bn, up 69pc year-on-year. “The incr­ease is mainly attributable to asset re-pricing and balance-sheet expansion,” said Insight Securities.

Meanwhile, Oil and Gas Development Company Ltd reported its earnings in the October-December quarter remained Rs41.7bn, down 22pc on a quarterly basis but up 18pc annually.

The result was “slightly higher” than the estimate of AKD Securities as net sales dropped 8.3pc to Rs97.2bn on a quarterly basis. The drop was mainly on the back of declining oil prices, which went down 15pc from the preceding quarter.

Along with the result, the company also announced an interim cash dividend of Rs2.25 per share, taking the half-yearly dividend to Rs4 per share.

Separately, DG Khan Cement Company Ltd said its unconsolidated profit for the second quarter of 2022-23 amounted to Rs543 million, down 57pc from a year ago.

The company’s sales remained flat because of a decline in cement despatches. However, on a quarterly basis, its revenue grew 19pc owing to higher despatches from the preceding three-month period, said Insight Securities.

Published in Dawn, February 23th, 2023

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Ultimate price
Updated 02 Nov, 2024

Ultimate price

To dismantle culture of impunity for crimes against journalists, state must ensure that perpetrators do not go unpunished.
Mastung bombing
02 Nov, 2024

Mastung bombing

INSTABILITY continues to haunt Balochistan, as Friday morning’s bombing in Mastung has shown. At least nine...
Plane speak
02 Nov, 2024

Plane speak

DESPITE all its efforts to facilitate PIA’s privatisation, it seems the government only ended up being taken for a...
Seeking investment
Updated 01 Nov, 2024

Seeking investment

Foreign visits will be fruitless unless crucial structural, policy reforms directly affecting investors are focused.
State-backed terror
01 Nov, 2024

State-backed terror

OVER the past year or so, India’s reportedly malign activities in foreign countries have increasingly come under the radar, with
Shared crisis
01 Nov, 2024

Shared crisis

WITH Lahore experiencing unprecedented levels of smog, the Punjab government has announced a series of “green...