KARACHI, Oct 20: In the quarterly results announcement season that is almost a half way through, three companies with significant investor interest announced their financial results on Thursday.

Engro Chemical Pakistan Limited posted profit after tax (PAT) amounting to Rs623 million for the July-Sept quarter and Rs1,349 million for nine months — Jan through Sept. This represented improvement over PAT at Rs523 million and Rs1,006 million for the quarter and nine months of the previous year.

“The increase in earning is attributable to higher phosphate and Zarkhez volumes, the first time dividend from Engro Asahi and better margins,” the chairman’s report to the shareholders stated.

The board also declared the second interim dividend at Rs3 per share (30 per cent), which was Re1 more than the first dividend paid last year. Total dividend to date including first interim of Rs3 per share stood at Rs6 per share, which was Rs1.50 higher than the last year. Net sales grew to Rs10,860 million from Rs7,929 million in the comparable nine months of 2004.

Directors noted that the sale of urea (including imported urea) during nine months to Sept 2005 was 688,000 tons, representing an increase of seven per cent from the last year.

Hub Power Company (Hubco) net profit for 1Q05 (three months to Sept) stood at Rs638 million, down from Rs1,370 million in the comparable period of the previous year. Basic and diluted earnings per share worked out at 55 paisa, compared with Rs1.18 in the similar quarter of 2004. Turnover decreased to Rs4,072 million for the latest quarter, from Rs4,306 million in the same period last year. The board did not declare any interim dividend.

In their report directors stated: “The current period profit is lower mainly due to a reduction in tariff after the full repayment of senior debt in July 2005.”

The third company to announce results on Thursday was Fauji Fertilizer Bin Qasim Limited (FFBL). It reported a profit after tax at Rs1,969 million for nine months ended Sept 30, that translated into earning per share (eps) at Rs2.11, up from Rs1,329 million or eps at Rs1.44 in the similar period of 2004.

The company posted net sales at Rs10,471 million, up from Rs7,913 million in the same period last year. The meeting of the board, held on Thursday in Rawalpindi, also declared an interim cash dividend for 3rd quarter ended Sept 2005 at Re0.75 per share, i.e. 7.5 per cent.