Business
April 27, 2021
KARACHI: Nishat Group’s DG Khan Cement has announced a net profit of Rs2.24 billion translating into earning per share (EPS) of Rs5.11 for the quarter ended March 31, 2021, compared with the loss of Rs1.07 billion in the same period last year.
The company did not announce any payout along with the corporate results.
For the nine month period, net profit clocked in at Rs3.25 billion and EPS of Rs7.42 against loss of Rs2.01 billion in the same period last year.
Sales revenues during 9MFY21 stood at Rs35.37 billion, up 6.5 percent from Rs33.217 billion in 9MFY20.
“Sales, in value terms, registered growth primarily due to stable local cement prices amid soaring cement demand. Gross profit improved despite low clinker production, largely attributable to stable input costs,” the company noted.
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.
Kse-100: Stocks post meager gains on lack of triggers
April 17, 2021
Bulls or Bears, stocks accommodated none at Pakistan Stock Exchange (PSX) on Friday, as lack of triggers kept investors sentiments in check, in a choppy trade.
On Friday, the benchmark kse-100 opened on a positive note and touched intra-day high at 45,471.35 level after gaining 241.17 points. However, selling pressure emerged by midday, which wiped off most of the gains. But, nevertheless, the index crawled up in the positive zone as by the closing bell the benchmark index gained 75.45 points to clock at 45,305.63 level.
During the session the market witnessed lack of investor interest, but higher expectations in upcoming financial results in key sectors was the sole reason which lent support to the bourse and aided its uptrend.
KSE-100: Stocks stay flat amid absence of triggers
April 14, 2021
Stocks failed to figure out a direction on Tuesday, as absence of triggers and Covid-19 fears continue to weigh on market sentiments.
On Tuesday, the benchmark KSE-100 opened on a positive note and touched intra-day high at 45,133.41 level after gaining 155.36 points. However, paring earlier gains, the index reversed its trajectory and touched intra-day low at 44,780.06 level after losing 197.99 level.
By the closing bell the benchmark index gained, merely 70.52 points to clock at 45,048.57 level.
During the session the market cheered strong inflows from overseas Pakistani in the form of remittances which exceeded $2 billion for the10th consecutive month in March and clocked at $2.7 billion – up 43 per cent from a year earlier, the State Bank of Pakistan (SBP).
KSE-100: Stocks fall flat in a directionless trade dailytimes.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailytimes.com.pk Daily Mail and Mail on Sunday newspapers.