KARACHI: Pak Suzuki Motor Company Limited’s (PSMCL) profit after tax (PAT) grew 38 per cent to Rs1.31 billion for the quarter ended March, turning into earnings per share (eps) at Rs15.88, from net earnings at Rs0.95bn and eps at Rs11.5 year-on-year (YoY). Sales rose to Rs23.9bn from Rs20.0bn.
Analyst Hashim Sohail at Topline Securities said PSMCL’s sales turnover surged 19pc in the outgoing quarter on account of 7pc rise in overall volumetric sales.
Also a 2pc price hike for Suzuki WagonR during the first quarter further supported growth in the top-line.
The reported results stood better than expectations to beat estimates.
The company sold a total of 32,288 units during Jan-Feb 2016 period, up 7pc. After normalising the effects of the Taxi Scheme, sales volumes of the company posted a growth of 22pc.
Sui Northern Gas Pipelines Ltd (SNGPL): The gas utility posted earnings of Rs2.5bn, with eps at Rs3.9 in third quarter of fiscal year 2017 from Rs217 million, with eps at Rs0.3 in the same period in 2016, driven by higher capital expenditure (capex) and operating profits.
Operating profits improved by 217pc to Rs4.8bn in the third quarter in fiscal year 2017 as the company continued to undertake major capex for the completion of LNG pipeline.
“Another major trigger driving operating profits were lower unaccounted for gas (UFG) losses which were less than 8pc compared to over 9pc during same period last year,” analyst Umair Naseer said.
Mari Petroleum: For the nine month period of July-Mar 2016-17, Mari reported (condensed) profit after tax at Rs6.31bn, translating into earnings per share at Rs57.21.
This showed a sizeable improvement over the PAT at Rs3.89 and eps at Rs35.29 in the corresponding period of the previous year.
After paying royalty of Rs2.53bn and Rs1.96bn, the net sales stood at Rs19.99bn and Rs15.45bn.
SEARLE: The pharmaceutical company PAT rose to Rs2bn and eps at Rs13.03 for the first nine months of 2016-17, up from Rs1.72bn and at Rs11.15 on a year-on-year basis.
Revenue grew to Rs7.96bn from Rs7.02bn, while gross profit increased to Rs3.08bn from Rs2.74bn and selling and distribution expenses rose to Rs2.06bn from Rs1.63bn.
Published in Dawn, April 26th, 2017
