KARACHI: Engro Corporation Ltd posted consolidated earnings of Rs12.6 billion for April-June, up 6.6 times from a year ago.

The company also announced a dividend of Rs2 per share for the quarter, taking the half-yearly pay-out to Rs42 apiece.

According to AKD Securities, the share of profits from associate and joint-venture entities increased to Rs1.7bn versus a loss of Rs0.1bn in the preceding quarter.

Meanwhile, Allied Bank Ltd told investors its net profit for April-June amounted to Rs9.95bn, up 404pc on an annual basis.

The main reason for improved profitability was higher net interest income and a lower effective tax rate, said Arif Habib Ltd.

The bank also announced a dividend of Rs2.50 along with the result.

Published in Dawn, August 18th, 2023

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