Profits of Attock Cement rise 43 percent

KARACHI: Attock Cement Pakistan Limited (ACPL) has registered an increase of 43.5 percent in the first quarter net profits amid an increase in net sales.

In the profit and loss account summary released to the Pakistan Stock Exchange on Thursday, ACPL announced a net profit of Rs690.84 million for the year ended September 30 as compared to a net profit of Rs481.38 million during the same period of the last year.

ACPL announced earnings per share (EPS) at Rs6.03 against Rs4.20/share. Company’s profit increased, as its net sales increased to Rs3.35 billion from Rs2.86 billion. However, cost of sales also increased to Rs1.96 billion from Rs1.87 billion. Thus, gross profit stood at Rs1.39 billion from Rs992.92 million.

Other income; however, declined to Rs61.18 million from Rs87.83 million recorded in the corresponding period of the last year.

       

General Tyre profits up 30pc

General Tyre and Rubber Company of Pakistan Limited, a leading tyre manufacturer of the country, has registered a raise of 30 percent in its first quarter profits on account of decline in the cost of raw material.In its financial results’ statement released to the Pakistan Stock Exchange, General Tyre announced earnings of Rs235.19 million for the quarter ended September 30, up against Rs180.29 million last year.

The company announced earnings per share (EPS) of Rs3.93/share against Rs3.02/share last year. Net sales of the company were recorded at Rs2.18 billion against Rs2.15 billion; cost of sales fell to Rs1.62 billion from Rs1.70 billion last year. Thus, the gross profits were recorded at Rs552.01 million, up from Rs443.42 million in the previous year.

Other income of the company fell to Rs8.9 million from Rs12.58 million.

 

BAHL profits down 16 percent

Bank Al-Habib Limited has declared a decline of 16 percent in its quarterly profits, amid a fall in net interest expenses.

In its consolidated condensed interim profit and loss statement issued to the Pakistan Stock Exchange on Thursday, BAHL announced profits of Rs1.65 billion for the quarter ended September 30 as compared to Rs1.96 billion in the same quarter of the last year.

The bank announced earnings per share (EPS) of Rs1.49 against Rs1.77 last year. The bank earned Rs11.44 billion in interests as against Rs12.28 billion last year. It paid Rs5.53 billion in interests as compared to Rs5.99 billion. Thus, the net interest income of the bank was recorded at Rs5.90 billion against Rs6.29 billion.

Total non-markup income of the bank was higher at Rs982.42 million as compared to Rs837.93 million.

BAHL’s nine-month period profits were slightly up at Rs5.43 billion as compared to Rs5.22 billion during the same period of the last year.

       

Shell earns profits of Rs1.2bln

Shell Pakistan on Thursday announced a profit of Rs1.2 billion for the quarter, amid lower sales tax.In its condensed interim statement of comprehensive income issued to the Pakistan Stock Exchange (PSX), the company reported a net profit of Rs1.20 billion for the period ended September 30, up against the losses of Rs349.03 million in the previous year.

The company posted earnings per share (EPS) of Rs11.30 as compared to the losses of (LPS) of Rs3.26 in the same period of the last year.

Net sales remained at Rs54.31 billion, up against Rs53.65 billion last year. After deduction of sales tax and cost of products sold, gross profits of the company remained at Rs3.65 billion against Rs2.23 billion in the previous year.

Other income of the company slightly improved to Rs108.54 million as compared to Rs80.59 million in the previous year.

Shell posted nine-month profits of Rs3.42 billion from Rs185.04 million in the same quarter of the last year.

Kapco earnings up 10 percent

Kot Addu Power Company Limited's (Kapco) quarterly profits went up 10 percent, amid a decline in cost of sales.In its condensed interim profit and loss account statement issued to the Pakistan Stock Exchange, the company declared profits of Rs2.31 billion during the quarter ended September 30, up against Rs2.10 billion declared during the same quarter of the last year.

Earnings per share (EPS) stood at Rs2.63/share against Rs2.39.

Kapco result was in-line with the market expectations.

Though revenue of Kapco fell 19 percent to Rs17.72 billion against Rs21.98 billion; however, a decline of 24 percent in the cost of sales to Rs14.38 billion against Rs18.92 billion turned the profits on the higher side.

Gross profits of the company were posted at Rs3.33 billion as compared to Rs3.06 billion.

The company's other income also increased 14 percent to Rs1.07 billion against Rs947.78 million last year.

Nestle profits surge 130pc

Nestle Pakistan Limited has announced 130 percent increase in quarterly earnings, amid an increase in sales.In its financial results report issued to the Pakistan Stock Exchange, Nestle announced profits of Rs3.39 billion for the quarter ended September 30 as compared to Rs1.47 billion in the same quarter of the last year. 

Nestle also announced an interim cash dividend of Rs185/share, which is in addition to the already paid cash dividend of Rs70. The company announced earnings per share (EPS) of Rs74.88 against Rs32.57.

Net sales of the company were higher to Rs28.06 billion against Rs23.97 billion in the same quarter last year.

Cost of goods sold was recorded at Rs18.06 billion as compared to Rs16.16 billion last year. Thus, the gross profit was posted at Rs9.99 billion against Rs7.80 billion in the same period of the last year. 

Distribution and selling expenses of Nestle increased to Rs3.98 billion against Rs3.44 billion, which had a negative impact on the profit margins. Other income of the company was higher to Rs30.21 million as compared to Rs14.47 million.

For the nine-month period ended September 30, Nestle posted a net profit of Rs9.81 billion as compared to Rs7.68 billion during the same period of the last year.