KARACHI: Quarterly pro­fits of the big companies listed on the Pakistan Stock Exchange (PSX) increased 19.9 per cent in October-Dece­mber on a year-on-year basis.

Based on the latest financial results released by 83 of the 100 constituents of the benchmark index, a research note by Arif Habib Ltd said on Tuesday three-month earnings of these firms amounted to Rs240.1 billion, up 0.6pc from the preceding quarter. These firms represent almost 90pc of the KSE-100 index’s market capitalisation.

Net income of these firms in 2021 totalled Rs940.2bn, up 47.3pc from 2020.

Growth in profitability was driven by the commercial banking sector, up 43.6pc, as the benchmark int­erest rate rose and the general provisioning made for Covid-19 was reversed. Pro­fits of cyclicals like cement and auto firms went up 26pc and 28.8pc, respectively, because of higher prices.

The oil and gas marketing companies as well as exploration and production firms posted bottom-line jumps of 384.6pc and 53.5pc, respectively, mainly on the back of higher oil prices.

However, incomes of the power generation sector com­­­panies dipped because of a lower share of profit from the associate of The Hub Power Company Ltd and lower capa­city payment of Kot Addu Power Co Ltd, it said.

Published in Dawn, March 2nd, 2022

Opinion

Editorial

Punjab crisis
01 Dec, 2022

Punjab crisis

ADMINISTRATIVE chaos has ruled Punjab ever since the ouster of the PTI government in April, deepening the...
Quetta attack
01 Dec, 2022

Quetta attack

It would be foolishness of the highest order were the authorities to ignore the emerging threat.
World AIDS Day
01 Dec, 2022

World AIDS Day

AS countries mark World AIDS Day on Dec 1, a timely report from Unicef has renewed concerns about the severe...
A call for bloodshed
30 Nov, 2022

A call for bloodshed

The state has wasted precious time by not consolidating its success in pushing TTP out of its strongholds in the north.
Missing childhoods
30 Nov, 2022

Missing childhoods

THE fact is that despite some legal efforts to end the curse of child marriage taking place in Pakistan under the...
Unemployment concerns
30 Nov, 2022

Unemployment concerns

THE ILO finding that labour market recovery from the impact of the Covid-19 pandemic in Pakistan, as in many other...