KARACHI: Amreli Steels Ltd (ASTL) posted 9MFY20 net loss at Rs688 million and loss per share at Rs2.32.

It was compared to profit after tax (PAT) at Rs224m and earnings per share (EPS) at Rs0.75 for the corresponding period of FY19.

Net sales grew 14pc to Rs21.4 billion for the 9MFY20, from Rs18.7bn. But the benefit was wiped off by financial charges that shot up 109pc to Rs1.8bn, from Rs860m due to higher working capital borrowings.

FFC profit jumps

Fauji Fertiliser Company (FFC) declared PAT at Rs4.3bn for the first quarter of 2020, which translated into EPS at Rs3.35.

This represented an improvement of 15pc over PAT at Rs3.7bn and EPS at Rs 2.91 for 1QCY19. The board also announced an interim cash dividend at Rs2.50 per share.

Nishat Power income up

Nishat Power recorded PAT at Rs3.8bn for 9MFY20, up 29pc, from Rs2.9bn in the same period last year.

EPS rose to Rs10.69, from Rs8.28 while net sales decreased 18pc to Rs9.5bn during the latest period, from Rs11.6bn.

However, due to a reduction of 42pc in cost of sales, gross profit jumped 30pc to Rs5bn, from Rs3.8bn.

Searle earnings slip

The Searle Company announced PAT at Rs1.76bn for 9MFY20, edging lower by 2pc from Rs1.79bn YoY.

This brought EPS down to Rs8.11, from Rs8.34. Revenues from contracts with customers improved to Rs15.1bn, from Rs13.4bn YoY.

Millat profits fall

Millat Tractors unveiled (unconsolidated) PAT at Rs1.36bn for 9MFY20 and EPS at Rs27.31.

The corresponding figures for the previous year were PAT of Rs2.75bn and EPS at Rs55.69.

BAFL earns Rs2.9bn

Bank Alfalah earned 1QCY20 net profit of Rs2.892bn (EPS: Rs1.59), down 9pc over corresponding last year’s figure of Rs3.12bn (EPS: Rs1.76).

The decline in profitability was attributed to a surge in the bank’s provisioning expenses. Net Interest Income improved 6pc to Rs11.8bn while net fee income jumped 21pc mainly on the back of FX operations and derivatives.

Published in Dawn, April 28th, 2020