PSO records Rs4.7bn profit

KARACHI: Pakistan State Oil (PSO) posted 3QFY18 profit after tax (PAT) of Rs4.70 billion translating into earnings per share (EPS) of Rs14.40, up 14 per cent year-on-year over PAT at Rs4.14bn and EPS at Rs12.70.

The board announced interim cash dividend at Rs10 per share (100pc). The latest quarter took the nine months FY18 PAT to Rs13.2bn and EPS at Rs40.56 against PAT of Rs14.2bn and EPS at Rs43.42 the previous year. Analysts said that the results were in line with market expectations.

In a communication to the shareholders, the company stated that gross profit showed growth of 6.9pc despite decline in furnace oil volumes as a result of government’s decision to shift power production towards Re-liquefied Natural Gas. Net sales for 9MFY18 amounted to Rs745bn, up from Rs629bn in the corresponding period of last year. —Equities Correspondent

Engro PAT surges by 62pc

Engro Corporation posted consolidated PAT of Rs6,837 million for the first quarter ended March 31, up 62pc year-on-year, while PAT attributable to the shareholders increased to Rs4,194m from Rs2,841m during comparative period last year.

Revenue rose 49pc to Rs33,525m from Rs22,499m in the corresponding period of last year, which the company said, in a statement, was primarily driven by improved performances from its fertiliser and petrochemical businesses. —Equities Correspondent

Meezan Bank earnings rise by 26.7pc

Meezan Bank declared 1QCY18 PAT at Rs1,915m, up 26.7pc, from Rs1,512m in the corresponding period of last year. This translated into an EPS of Rs1.8.—Staff Reporter

Published in Dawn, April 24th, 2018