KARACHI, Oct 10: The corporate results announced on Tuesday included those of Faysal Bank; Telecard; Attock Petroleum; Pakistan Cement Company and a few others. Glimpses of some of those are presented hereunder:

Faysal Bank Limited posted 9 per cent drop in earnings amounting to Rs2.28 billion for the three-quarters ended Sept 30. It translated into earning per share (eps) of Rs5.37. Net interest income of the bank increased 13pc to Rs2.5bn compared to Rs2.2bn in the corresponding period of the previous year.

However, on quarter-on-quarter basis it registered a decline of 21 per cent. Interest expense to interest earned ratio increased to 63pc from 49pc previously. Non interest income of the bank, on the back of higher dividend income, registered a growth of 24pc. The board skipped a dividend.

Telecard Limited also did not announce a payout, for the company posted pre-tax loss at Rs93 million and after tax loss at Rs54 million for the year ended June 30. That compared with a year ago pre and after tax profit at Rs432 and Rs244 million.

EPS at Rs1.13 turned to loss per share at Re0.18. Telecard showed revenue growth of 5.96 per cent to Rs2,560 million, from Rs2,416 million in the same period of last year. Gross profit, however, slipped 25 per cent to Rs621 million, from Rs830 million.

Attock Petroleum Limited showed increase of 59 per cent in profit for the first quarter ended Sept 30, 2006 to Rs412 million, from Rs259 million in the comparable period of the earlier year.Effectively that worked out to basic EPS of Rs10.31 for the period under review and Rs6.48 for the 1Q05. Profit before tax increased to Rs572 million, from Rs360 million. The company’s operating profit was up to Rs538 million from Rs364 million.

Sales grew 55 per cent to Rs13,530 million for the period under review, from Rs8,729 million in the corresponding quarter of last year. The company did not announce a dividend.

Pakistan Cement Company for the financial year ended June 30, 2006 reported loss after tax of Rs56 million and before tax amounting to Rs54 million. In the earlier year, the company had posted pre and after tax profits in the sum of Rs639 and Rs615 million.

Loss per share stood at Re0.08 for the period under review compared to earning per share at Re1.09 in the previous year. The board did not announce a dividend.

The variance of results for the year ended June 30, 2006 from the previous year was on account of a negative adjustment of a sum of Rs71 million in FY05 on account of ‘fair value adjustment of deferred liabilities for custom duties and sales tax’ and a favourable adjustment of Rs767 million for ‘waiver of interest and penal charges on long term financing.’