KARACHI: Pakistan Oilfields Limited (POL) earned a profit-after-tax of Rs2.53 billion and earnings per share (EPS) of Rs10.71 for the first quarter of this fiscal year ending Sept 30, up 9pc over the PAT at Rs2.32bn and EPS at Rs9.80 2.53bn.

The results were thought to be in line with market expectations. Net sales grew 26pc to Rs7.24bn, from Rs5.72bn year-on-year. Exploration costs were up to Rs272m from Rs64m. Taurus Securities stated that during 1QFY18, growth in bottom-line stemmed from robust growth in top-line by 26pc on account of higher Arab light prices (17pc) coupled with rise in hydrocarbons production by 5pc, and decrease in operating costs by 3pc.

KOT ADDU POWER: Kapco declared 1QFY18 earnings at Rs2.18bn or EPS at Rs2.48, down 5.9pc over Rs2.32bn and EPS at Rs2.63 year-on-year.

Elixir Securities stated that the the results were below expectations due to higher finance cost. The company did not declare any dividend in line with a semi-annual dividend policy. Revenue rose 21.7pc to Rs21.6bn, from Rs17.7bn year-on-year.

Gross profit for 1QFY18 was in line with estimates and 3.1pc higher over 1QFY17.

FAUJI FERTILISER BIN QASIM: The company reported 3Q2017 EPS of Rs0.8, up 165pc year-on-year. Sales grew 32pc YoY in 3Q2017 to Rs15.1bn, out of which Rs11.6bn was contributed from fertiliser business (13pc).

Topline Securities stated that as per provisional September 2017, fertiliser off-take figures, the brokerage estimated FFBL’s DAP sales rose 14pc to 162,000 tonnes, while urea sales were down around 7pc to 145,000 tonnes. Food business contributed Rs1.9bn to sales (119pc year-on-year), while FFBL Power Company was thought to have added the remaining Rs1.6bn, which was absent last year as the power plant commenced operations in 2Q2017.

ATTOCK REFINERY LTD: The company announced its 1QFY18 financial results posting PAT at Rs758m and EPS at Rs8.89, down 38pc over PAT at Rs1.22bn and EPS at Rs14.40 year-on-year.

Next Capital stated that earnings remained strong primarily on account of robust GRMs during the quarter. “Gross profit margin for the quarter stood at 5pc supported by healthy GRM’s of $10.2 a barrel as per our estimates”, analysts said.

Published in Dawn, October 20th, 2017