KARACHI, Oct 25: As the mandatory one month from the end of quarter ended September 30 almost draws to close, financial results of companies start pouring in. On Tuesday several companies declared results.
Shell Pakistan posted a profit after tax (PAT) at Rs982 million for the quarter ended September 30, 2005, compared with Rs651 million earned in the same period last year. The latest profit translated into earnings per share at Rs22.40, which beat the best of analysts’ expectations.
Two companies not of significant small investor interest due to their high stock prices and low turnover that declared results included Nestle Pakistan Limited and GlaxoSmithKline.
Nestle Pakistan made a profit of Rs845 million on sales valued at Rs12.8 billion for 3Q2005, compared with PAT at Rs769 million on sales worth Rs9.7 billion in the comparable period last year. GlaxoSmithKline posted a PAT of Rs1,235 billion on sales valued at Rs6,923 billion. This compared with PAT of Rs1,164 billion on a turnover of Rs6,803 billion.
Earlier on Monday, Pakistan Oilfields announced a PAT at Rs1,441 million for three months ended Sept 30, showing a growth from Rs660 million in the same time last year. That worked out at eps of Rs10.96, more than twice the eps of Rs5.02 in the same quarter of 2004. Its net sales also were about double at Rs3,549 million, from Rs1,834 million in the quarter of 2004.
Askari Commercial Bank announced a PAT at Rs1,434 million for nine months ended Sept 30, 2005, compared with Rs1,513 million in the same time last year. Results of both Pakistan Oilfields and Askari Bank were believed by most analysts to be in line with expectations.
Indus Motors reported 1Q05 PAT at Rs466 million on net sales valued at Rs7,108 million, up from Rs368 million on sales of Rs6,521 million. That translated into eps at Rs5.93, compared with Rs4.69 in last comparable period.
Boards of directors to announce results on Wednesday and Thursday include those of Fauji Fertilizer Company, Engro Chemicals, Sui Southern Gas Company, Pakistan Petroleum Limited, Bank of Punjab, DG Khan Cement, Unilever, Nishat Mills, PTCL and others.
Investors are particularly awaiting the board meeting of PTCL scheduled for Thursday, not merely for how much the telecom posts in after tax profit for 1QFY06, but more so to be sure that as per agreed schedule, Etisalat of the UAE would make payment and take over the telecom on Oct 28 (Friday).
