Invest Capital Investment Bank Limited’s financial results for the quarter ended 30th September 2011, half year ended 31st December, 2011 and quarter ended 31st March, 2012

[ 0 ] July 20, 2012 | Financial Results

Karachi, July 20, 2012 (PPI-OT): We wish to inform you that the Board of Directors of our Company in their meeting held on Tuesday, 20th July, 2012 at 11:30 a.m. at the Head Office 701-A, City Tower, 6-K, Main Boulevard, Gulberg-II, Lahore recommended the following:

1. Cash Dividend                                   Nil

2. Bonus Shares                                    Nil

3. Right Shares                                    Nil

4. Any Other Entitlement/ Corporate Action         Nil

5. Any Other Price-Sensitive Information           Nil

The copies of financial results for the Quarter ended 30th September, 2011 Half Year Ended 31st December, 2011 and the Quarter ended 31st March, 2012 are enclosed. We will be sending you copies of the printed accounts shortly for distribution amongst the members of the Exchange.

Invest Capital Investment Bank Limited

Condensed Interim Profit and Loss Account (Un-audited)

For the quarter ended September 30, 2011

Quarter ended September 30
Note

2011

2010

Rupees in thousand
Income
Income from leasing operations

8,097

19,892
Operating lease rentals

12,832

32,674
Profit on musharakah investments

2,440

8,867
Income from investment and placement

144

114
Income from finances

4,630

3,210
Income on deposits with banks

2,351

3,721
Income from joint ventures

3,595

2,171
Dividend income

-

4,517
Net gain / (loss) on sale of marketable securities

1,294

2,310
Unrealized gain / (loss) on investment in marketable securities – net

-

(2,496)

——-

——-

35,383

74,980
Expenses
Administrative and operating expenses

(48,134)

(75,048)
Financial charges

(58,630)

(132,391)

——-

——-

(106,764)

(207,439)

——-

——-

(71,381)

(132,459)
Other income

2,078

1,854

——-

——-

(69,303)

(130,605)
Provision (Charged)/ Reversed on Non-performing loans and Write-offs
Provision against doubtful finance lease receivable and lease rentals – net

(3,612)

(15,506)
Provision against long term / short term musharakah finances

(4,586)

(2,660)
Provision against long term / short loan

16

205

——-

——-
Loss before taxation

(8,162)

(17,961)

——-

——-

(77,465)

(148,586)
Provision for taxation 22

(354)

(1,081)

——-

——-
Loss after taxation

(77,819)

(149,647)

——-

——-
Loss per share
- Basic 23

(0.27)

(0.53)

——-

——-
- Diluted 23

(0.27)

(0.53)
Condensed interim Statement of Comprehensive Income (Un-audited)
For the quarter ended September 30, 2011
Loss for the period

(77,819)

(149,647)
Other comprehensive Income / (loss)
Unrealized gain / (loss) on remeasurement of available for sale

342

-
Investments
Total comprehensive loss for the period

(77,477)

(149,647)

The annexed notes 1 to 25 form an integral part of this condensed interim financial report.

Invest Capital Investment Bank Limited

Condensed Interim Profit and Loss Account (Un-audited)

For the six months period ended December 31, 2011

Six months period

Three months period

ended December 31

ended December 31
Note

2011

2010

2011

2010

Rupees in thousand

Rupees in thousand
Income
Income from leasing operations

11,611

39,063

3,514

19,161
Operating lease rentals

32,547

61,331

19,715

28,657
Profit / (loss) on musharakah investments

1,726

15,300

(714)

6,433
Income from investment and placement

329

876

185

384
Income from finances

12,712

3,021

8,082

189
Income on deposits with banks

4,762

4,198

2,411

477
Income from joint ventures

7,191

4,307

3,596

4,307
Dividend income

1,500

6,833

1,500

2,316
Net gain / (loss) on sale of marketable securities

717

5,346

(577)

3,036
Unrealized gain on investment in marketable securities – net

578

2,629

578

5,125
Loss from Diesel / CNG filling station – net

(779)

(1,846)

(779)

(1,846)

——-

——-

——-

——-

72,894

141,048

37,511

68,239
Expenses
Administrative and operating expenses

(91,584)

(140,523)

(43,450)

(65,475)
Financial charges

(118,341)

(222,406)

(59,711)

(126,203)

——-

——-

——-

——-

(209,925)

(362,929)

(103,161)

(191,678)

——-

——-

——-

——-

(137,031)

(221,881)

(65,650)

(123,439)
Other Income

25,769

5,533

23,691

6,198

——-

——-

——-

——-

(111,262)

(216,348)

(41,959)

(117,241)
Provision (Charged)/Reversed on Non-performing loans and Write-offs
Provision against doubtful finance lease receivable and lease rentals – net

(8,959)

(34,457)

(5,347)

(18,951)
Provision against long term / short term musharakah finances

(6,585)

(7,077)

(2,019)

(4,417)
Provision against long term / short term loan

(5,745)

(4,840)

(5,729)

(5,045)
Reversal of provision against other receivables

-

1,500

-

1,500
Doubtful lease receivables written-off

-

(422)

-

(422)
Other receivables written-off

-

(9,876)

-

(9,876)

——-

——-

——-

——-

(21,289)

(55,172)

(13,095)

(37,211)

——-

——-

——-

——-
Loss before taxation

(132,551)

(271,520)

(55,054)

(154,452)
Provision for taxation 29

(915)

(2,292)

(561)

(1,211)
——- ——-

——-

——-
Loss after taxation

(133,466)

(273,812)

(55,615)

(155,663)
——- ——-

——-

——-
Loss per share
- Basic 30

(0.47)

(0.96)

(0.20)

(0.57)
——- ——-

——-

——-
- Diluted 30

(0.47)

(0.96)

(0.20)

(0.57)
Condensed Interim Statement of Comprehensive Income (Un-audited)
For the six months period ended December 31, 2011
Loss for the period

(133,466)

(273,812)

(55,615)

(155,663)
Other comprehensive income / (loss)
Unrealized (loss) on remeasurement of available for sale investments

(368)

(1,658)

(1,189)

-

——-

——-

——-

——-
Total comprehensive loss for the period

(133,834)

(275,470)

(56,805)

(155,663)

The annexed notes 1 to 33 form an integral part of this condensed interim financial reports.

Invest Capital Investment Bank Limited

Condensed Interim Profit and Loss Account (Un-audited)

For the nine months period ended March 31, 2012

Nine Months

Quarter

ended March 31

ended March 31

2012

2011

2012

2011

Rupees in thousand

Rupees in thousand
Income
Income from leasing operations

20,813

49,783

9,202

10,730
Operating lease rentals

62,166

89,920

29,619

28,589
Profit / (loss) on musharakah investments

1,939

24,971

213

9,671
Income from investment and placement

444

1,564

715

688
Income from finances

37,427

5,343

24,715

2,322
Income on deposits with banks

6,936

5,343

2,174

(2,888)
Income from joint ventures

9,555

6,357

2,364

2,050
Dividend income

1,600

4,575

-

(2,258)
Net gain / (loss) on sale of marketable securities

717

288

-

(5,058)
Unrealized gain on investment in marketable securities – net

3,057

538

2,479

(2,091)
Loss from Diesel / CNG filling station – net

(778)

(1,846)

-

-

——-

——-

——-

——-
Expenses
Administrative and operating expenses

(130,131)

(173,358)

(38,547)

(32,835)
Financial charges

(162,107)

(256,797)

(43,768)

(33,391)

——-

——-

——-

——-

(292,238)

(429,165)

(82,313)

(66,226)

——-

——-

——-

——-

(148,463)

(246,352)

(11,432)

(24,471)
Other Income

32,033

14,891

6,264

9,358

——-

——-

——-

——-
Provision (Charged)/Reversed on Non-performing loans and Write-offs
Provision against doubtful finance lease receivable and lease rentals – net

(15,141)

(50,403)

(6,182)

(15,946)
Provision against other receivables

-

1,500

-

-
Doubtful lease receivables written-off

-

(597)

-

(175)
Other receivables written-off

-

(9,876)

-

-
Provision against long term / short term musharakah finances

(8,763)

(10,970)

(2,178)

(3,893)
Provision against long term / short term loan

(5,744)

(8,308)

1

(3,468)

——-

——-

——-

——-

(29,648)

(78,654)

(8,359)

(23,482)

——-

——-

——-

——-
Loss before taxation

(146,078)

(310,115)

(13,527)

(38,595)
Loss for the period from discontinuing operation

-

(74,516)

-

(24,324)
Provision for taxation 22

(1,438)

(447)

(523)

1,845

——-

——-

——-

——-
Loss after taxation

(147,518)

(385,079)

(14,050)

(51,074)

——-

——-

——-

——-
Loss per share
- Basic 22

(0.52)

(1.35)

(0.05)

(0.21)

——-

——-

——-

——-
- Diluted 23

(0.52)

(1.35)

(0.05)

(0.21)
Condensed Interim Statement of Comprehensive Income (Un-audited)
For the nine months period ended March 31, 2012
Loss for the period

(147,516)

(385,078)

(14,050)

(61,074)
Other comprehensive income / (loss)
Unrealized (loss) on remeasurement of available for sale investments

(2,850)

3,002

(2,842)

-

——-

——-

——-

——-
Total comprehensive loss for the period

(150,366)

(382,076)

(16,532)

(61,074)

For more information, Contact:
Syed Shahid Owais
Company Secretary
Invest Capital Investment Bank Limited,
301, Muhammad Gulistan Khan House,
82E, Blue Area, Fazl-e-Haq Road,Islamabad.
Telephone : +92 (51) 111 111 097
+92 (51) 282 5904
Fax: +92 (51) 227 5202

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Category: Financial Results

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