KARACHI: Several widely followed companies announced their results on Tuesday.

For the first quarter of this year (1Q2014), Habib Metropolitan Bank announced earnings per share (eps) at Re0.95; MCB Bank declared eps at Rs5.08 along with cash dividend at Rs3 per share; IGI Insurance posted eps at Rs2.24; Rafhan Maize disclosed eps at Rs60.53 and cash dividend at Rs2.50 per share.

Jubilee Life Insurance Company announced PAT at Rs202m and eps at Rs2.80. Pre-tax profit amounted to Rs295m, up 45pc over pre-tax profit at Rs204m and eps at Rs2.80 year-on-year (YoY). Other results unveiled on Tuesday included those of Pakistan Telecommunication Company Limited (PTCL) and Fauji Fertiliser Bin Qasim Limited (FFBL).

PTCL: The company announced 1Q2014 consolidated earnings at Rs4.4bn, translating into eps at Re0.85, up 31pc YoY over PAT at Rs3.3bn and eps at Re0.65. Revenue amounted to Rs33.4bn, up 3.7pc YoY, while gross profit rose to 38.8pc.

Analyst Muhammad Tahir Saeed at Topline Securities attributed increase in earnings by 31pc to surge in broadband subscribers with major increase in EVO wireless segment. Moreover, finance costs dropped 64pc to Rs390m in 1Q2014.

FFBL: The firms posted PAT at Rs48 or eps at Re0.05 for 1QCY14, down 90pc over PAT at Rs492 and eps at Re0.53 earned in the same period last year.

Analyst Imran Pateel at Global Securities attributed decline in earnings to lower DAP and urea production because of gas curtailment during January and February 2014; reduction in gross margins caused by increase in Gas Infrastructure Development Cess on feed and fuel and loss from investment in Askari Bank.