Corporate Result: HBL posted higher Profit of 186% in 3rd Quarter

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In a latest notification the PSX, Habib Bank Limited (PSX:HBL) has announced the Financial result for the 3rd Quarter ended September 30, 2020, in which the company witnessed Profit After Tax of Rs. 25.2 Bn, showing an increase of 186% in YoY basis. The company also announced the EPS of Rs. 17.17.

Markup Earned by the company improved by 13.8% to Rs. 207.9Bn. However, the Markup Expense slightly inched up by 0.53% that translated into the Net Markup of Rs. 98.7 Bn, showing an increase of 33.3% YoY basis.

The Operating Expense inched up by 1.91% to Rs. 70.2 Bn. Furthermore, the company’s Other income was recorded at Rs. 198.4 Mn, showing a decline of 60.8% YoY basis.

Tax Expenses also increased by 86% to Rs. 17.6 Bn as compared to the Taxes of last year.

Despite the Higher Tax expenses and lower Other income the company managed to post higher earnings for the Nine Months period.

HBL – 3rd Quarter

Quarter ended

EPS 2020 = 6.85 PKR
EPS 2019 = 3.36 PKR

Nine Month Ended

EPS 2020 = 17.17 PKR
EPS 2019 = 5.89 PKR

Cash Dividend = NIL
Bonus Share = NIL