Business
June 2, 2021
ISLAMABAD: Annual consumer inflation decelerated to 10.9 percent in May compared to 11.1 percent in the previous month as fuel, electricity and food prices were seen declining.
Pakistan Bureau of Statistics (PBS) data on Tuesday showed that consumer price index (CPI) inflation general was still more than 8.2 percent in May 2020. CPI inflation increased 0.1 percent month-on-month in May compared to an increase of 1 percent in the previous month and a increase of 0.3 percent in May 2020.
Analyst Fahad Rauf at Ismail Iqbal Securities said fall in electricity prices due to fuel price adjustment restricted CPI growth.
âCore inflation continues to remain rangebound, clocking at 7.1 percent versus 7.3 percent in April,â Rauf said. The central bank left the interest unchanged at 7 percent in the latest monetary policy for the fifth time in last 10 months.
FFBL Reports Profit of Rs. 1.26 Billion in Q1
The company had reported a loss of Rs. 3.04 billion during the same period last year.
Accordingly, earnings per share of the fertiliser manufacturer were reported at Rs. 0.98 in 1QCY21 compared to a loss per share of Rs. 2.36 in the same period last year. During the first quarter, the company reported net sales of Rs. 13 billion, up 36.16% compared to Rs. 9.55 billion recorded in the same quarter of 2020.
According to a report by Foundation Securities, the increase in the company’s profitability was due to 8.2% year on year increase in DAP offtake amid better DAP primary margins, 61.6% year on year increase in Urea offtake given better retention prices, and a decrease in finance cost.