Fauji Cement earnings soar

Fauji Cement Company Ltd (FCCL) posted 1QFY19 profit after tax (PAT) at Rs 801 million, translating into earnings per share of Rs0.58, up 80 per cent over PAT at Rs444m and EPS at Rs0.32 in corresponding quarter last year.

The rise in earnings was attributed to growth in sales by 11pc to Rs5.34 billion, due to upside in total off-take to 0.76m tons, from 0.73m tons. Financial charges also dropped by 7pc which helped the bottom line.—Equities Correspondent

Nishat Power records Rs984m profit

Nishat Power Ltd (NPL) declared 1QFY19 PAT at Rs984m (EPS: Rs2.78), up 14pc from earnings at Rs860 and (EPS: Rs2.43) in the same quarter last year. The increase in earnings emanated from sales rise by 28pc to Rs5.85bn, from Rs4.56bn as furnace oil prices jumped by 57pc.

However, despatches declined by 13pc to 316 GWh (Load Factor: 73pc) while finance cost increased 21pc to Rs222m, from Rs184m.—Equities Correspondent

NAFL signs MoU with Sütaş

LAHORE: Nishat Agricul­ture Farming (Private) Limited and Sütaş, a leading dairy sector firm of Turkey, entered a joint venture agreement for the manufacturing, marketing and sale of premium dairy products in Pakistan.

The companies have agreed to jointly set up a manufacturing facility and establish a joint venture company with equal shareholding ratio. —Staff Reporter

Published in Dawn, October 23rd, 2018

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