December 30, 2022
Barita Investments Limited (BIL) for the year ended September 30, 2022, reported an increase of 8% in net interest income to $1.67 billion (2021: $1.54 billion). For the quarter, it declined 27% to $284.60 million (2021: $388.33 million).
Dividend Income increased 2921% to $31.84 million (2021: $1.05 million). Gains on sale of investment increased 113% to $3.36 billion (2021: $1.58 billion), while fees & commissions income declined 3% to $3.02 billion (2021: $3.12 billion).
Foreign exchange trading and translation amounted to a gain of $791.51 million (2021: $1.85 billion).
Administrative expenses amounted to $2.09 billion (2021: $1.79 billion), a 17% increase year over year. Staff costs increased 36% to $1.71 billion (2021: $1.26 billion).
Impairment of financial assts declined 38% to $3.96 million (2021: $6.45 million).
Profit before tax increased 2% to $5.24 billion (2021: $5.12 billion). For the quarter, it declined 22% to 644.76 million (2021: $824.71 million).
Following taxation of $1.02 billion (2021: $1.06 billion), net profit amounted to $4.22 billion (2021: $4.06 billion), a 4% increase year over year. For the quarter, net profit marginally increased to $390.20 million (2021: $389.84 million).
Earnings per share (EPS) for the period, totalled $3.46 (2021: $3.33). The number of shares used in our calculations amounted to 1,204,279,000 units. BIL stock price closed the trading period on December 29, 2022 at $99.96 with a correspond P/E ratio of 28.90 times.
Balance Sheet at a glance:
As at September 30, 2022, total assets amounted $109.70 billion (2021: $90.21 billion), an increase of 22% year over year. This was due mainly to the growth in ‘Pledged Assets’ which increased by $11.31 billion to a total of $61.60 billion (2021: $50.29 billion) and ‘Marketable Securities’ which rose by $10.16 billion to $24.29 billion (2021: $14.13 billion).
Shareholders’ equity amounted to $32.18 billion (2021: $36.25 billion) resulting in a book value per share of $26.72 (2021: $30.10).
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