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Karachi, May 13, 2013 (PPI-OT): We have to inform you that the Board of Directors of our company in their meeting held at 03:00 PM on Friday, 10th May 2013 approved the un-audited quarterly Accounts of the company for the period ended March 2013.
The financial results of the Company are enclosed.
We shall be sending you the required copies of printed accounts for distribution amongst the members of the Exchange in due course of time.
Condensed Interim Profit and Loss Account (Un-Audited) for the period ended 31 March 2013
Three months ended Nine months ended
31-Mar-13 31-Mar-12 31-Mar- 13 31-Mar-12
Rupees Rupees Rupees Rupees
Income
Profit on financing 9,058,417 12,780,437 49,867,582 41,344,828
Mark up on lease finance - 46,008 1,040 168,047
Return on placements 3,301,642 7,718,755 29,129,608 44,247,076
Return on investments 36,709,991 19,685,317 72,072,479 57,810,596
Fees and Commission - 207,876 130,392 6,619,826
Profit on bank deposits 321,961 248,860 1,029,156 823,092
Other income 44,359,038 3,570,885 46,223,271 11,533,894
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93,751,049 44,259,038 198,455,528 162,547,359
EXPENSES
Return on certificates of deposit 19,378,331 19,561,637 61,364,220 60,451,694
Return on term finance certificates 1,916,258 2,918,188 6,326,391 12,030,796
Mark-up on short term running finance 75,089 360,396 567,112 779,451
Mark-up on borrowings from financial institutions 26,694,983 4,444,690 66,163,782 47,709,617
Amortization of premium on held to maturity investments 11,808 1,576,557 584,437 8,502,027
Administrative and other operating expenses 12,538,377 13,263,804 38,779,950 37,868,637
Other financial charges 32,080 21,525 82,858 202,821
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60,646,926 42,146,797 173,868,751 167,545,043
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Operating profit/ (loss) before provisions and taxation 33,104,123 2,112,241 24,586,777 (4,997,684)
Provision for doubtful financing - reversed - - - 605,179
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Operating profit/(loss) before taxation 33,104,123 2,112,241 24,586,777 (4,392,505)
Taxation (656,076) (329,753) (1,814,360) (1,403,255)
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profit/ (loss) after taxation 32,448,047 1,782,488 22,772,417 (5,795,760)
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Other comprehensive income - net of tax - - - -
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Total comprehensive profit/ (loss) - net of tax 32,448,047 1,782,488 22,772,417 (5,795,760)
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Profit/ (loss) per share-basic and diluted 0.74 0.04 0.52 (0.13)
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The annexed notes from 1 to 19 form an integral part of this interim financial information.
For more information, contact:
Kamran Hafeez
Company Secretary
Escorts Investment Bank Limited
Escort House, 26 Davis Road,
Lahore, Pakistan
Tel: (92-21) 3637 1931
Fax: (92-21) 3637 5950