Home / Financial Results / Escort Investment Bank Limited’s financial results for the year ended 30th September 2011

Escort Investment Bank Limited’s financial results for the year ended 30th September 2011

Karachi: We have to inform you that the Board of Directors of our company in their meeting held at 03:30 PM on Friday, 23rd December 2011 approved the un-audited quarterly Accounts of the company for the quarter ended September 2011.

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 Three Months Ended 30 September 2011

Three months ended

30-Sep-11

30-Sep-10

Rupees

Rupees

Income
Profit on financing  12,939,324  9,700,225
Mark-up on lease finance 74,202 750,780
Return on placements 23,038,480 6,858,275
Return on investments 22,983,403 19,085,931
Fees and Commission  1,555,000
Profit on bank deposits 188,591  272,942
Other income  6,420,742 146,554
———- ———-
67,199,742 36,914,707
Expenses
Return on certificates of deposit  20,982,269 13,556,894
Return on term finance certificates 6,090,394 11,729,601
Mark – up on short term running finance  102,994
Mark – up on borrowing from financial institutions 25,782,272 11,486,031
Amortization of premium on held to maturity investments 3,462,735 3,054,549
Administrative and other operating expenses 12,756,641 18,717,506
Other financial charges  157,255 36,070
  ———- ———-
69,334,560 58,580,651
  ———- ———-
Operating loss before taxation  (2,134,818) (21,665,944)
Taxation   (567,780)  (175,973)
———-  ———-
Loss after taxation   (2,702,598)   (21,841,917)
 ———-  ———-
Other comprehensive income – net of tax
 ———-  ———-
Total comprehensive loss – net of tax   (2,702,598) (21,841,917)
———-  ———-
(Loss) / Earnings per share – basic and diluted (0.06) (0.50)

 

For more information, contact:
Kamran Hafeez
Company Secretary
Escort Investment Bank Limited
Escort House, 26 Davis Road,
Lahore, Pakistan
Tel: (92-21) 3637 1931
Fax: (92-21) 3637 5950

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