2004

2003

Note

Rupees

Rupees

INCOME

Income from loans, term finances and credit facilities

25

109,961,912

193,855,946

Income from investments

26

113,969,381

119,508,661

Net gain on sale investments

48,048,861

65,768,682

Fee, commission and brokerage

27

53,965,609

36,342,495

Other income

28

723,780

1,740,765

326,669,543

417,216,549

Expenditure

Return / mark-up on certificates of deposit and borrowings

29

97,502,002

193,973,921

Administrative and operating expenses

30

62,566,614

52,495,650

160,068,616

246,469,571

Profit before provision and taxation

166,600,927

170,746,978

Provision for losses on term finances / credit facilities

4.9 & 9.5

3,384,600

25,500,000

Profit before taxation

163,216,327

145,246,978

Provision for taxation    - current

45,000,000

52,000,000

                                         - prior

3,472,944

5,500,000

                                         - deferred

(1,059,034)

(9,271,996)

31

47,413,910

48,228,004

Profit after taxation

115,802,417

97,018,974

Unappropriated profit brought forward

50,484,913

34,755,134

Profit available for appropriations

166,287,330

131,774,108

APPROPRIATIONS

Transfer to statutory reserve

18.2

23,372,290

21,289,195

Securities price fluctuation reserve

18.3

15,000,000

          -

Proposed cash dividend Re. 1.00/- per share

(2003: Rs. 2.00 per share)

30,000,000

60,000,000

Proposed issue of bonus shares @ 10.00% (2003: Nil)

30,000,000

          -

98,372,290

81,289,195

Unappropriated profit carried forward

67,915,040

50,484,913

Basic earnings per share

32

3.86

3.93