DG Khan Cement reported a 160.8% spike in its profit to Rs1.3 billion for the quarter ended December 31, 2020 owing to a rise in retention prices coupled with a decline in repair and maintenance cost.
Company announces final cash dividend of Rs2 per share
KARACHI:
Engro Corporation’s profit soared 45.1% to Rs44.4 billion in the year ended December 31, 2020 compared to earnings of Rs30.6 billion in 2019, according to a notice sent by the company to the Pakistan Stock Exchange on Thursday.
Earnings per share (EPS) of the company came in at Rs43.57 in 2020 compared to Rs28.69 a year ago.
Alongside the result, the company announced a final cash dividend of Rs2 per share, taking the full-year dividend to Rs26 per share.
Net sales of the company rose 10.21% from Rs225.8 billion in 2019 to Rs248.8 billion in 2020. Cost of sales increased from Rs157.2 billion in 2019 to Rs172.8 billion in the year under review, a rise of 9.92%.
Mari Petroleum’s profit inched up 0.68% to Rs7.33 billion in the quarter ended December 31, 2020 owing to a significant decline in other expenses and a modest rise in revenue.
Market watch: Profit-booking drags KSE-100 down
Benchmark index falls 137.09 points to settle at 46,248.45
KARACHI:
Bulls took a break at the Pakistan Stock Exchange on Monday as profit-booking pulled the benchmark KSE-100 index lower by 137 points.
Index-heavy cement and financial sectors faced modest selling, which fuelled the downtrend. A lack of positive triggers that could give direction to the market dented investor interest, leading to divestment of stockholdings, which erased early gains.
In the morning, trading began with a spike and the market inched closer to the 47,000-point mark. However, the rise proved short-lived and profit-booking by market participants erased the gains, pushing the index into the negative zone. The market’s decline deepened towards the end of session.