KARACHI: Indus Motor Company Ltd posted a net profit of Rs5.12 billion for the January-March quarter, up 41.6 per cent from a year ago.

A stock notice on Tuesday showed the company announced an interim cash dividend of Rs26 per share, taking the nine-month payout to Rs90.50 per share.

Its earnings came slightly above the industry’s expectations because of the higher-than-anticipated gross margin, said Topline Securities. On a quarterly basis, unit sales recorded a decline of 5pc on the back of production issues and plant shutdowns due to maintenance.

Fauji Cement earns Rs1.23bn

Fauji Cement Company Ltd said on Tuesday its profit after tax for the January-March quarter amounted to Rs1.23bn, up 22pc on a year-on-year basis.

A stock notice showed its nine-month earnings clocked in at Rs4.06bn after increasing 56pc from the same period of the preceding fiscal year. The company’s quarterly top line grew 30pc to Rs7.68bn on the back of a surge in retention prices that offset the impact of a 3pc dip in the off-take to 782,000 tonnes, said Arif Habib Ltd.

On a quarter-on-quarter basis, revenue declined 8pc as augmented prices were eroded by a 12pc cut in despatches.

Bank Alfalah quarterly income up 47pc

Consolidated earnings of Bank Alfalah Ltdfor the first quarter of 2022 amounted to Rs5bn, up 47pc year-on-year, a stock notice on Tuesday showed.

The rise in earnings was primarily because of a jump in net interest income, which clocked in at Rs14.28bn after going up 38pc on a year-on-year basis, said Arif Habib Ltd. The interest expense was up 96pc probably because the full impact of last year’s interest rate hikes was accounted for in the quarter under review.

The bank announced no dividend.

Provisioning came in at Rs386m, 78pc higher on an annual basis.

Pak Suzuki posts loss

Pak Suzuki Motor Company Ltd reported on Tuesday its net loss for the January-March quarter remained Rs460m against a net profit of Rs778m a year ago.

Its earnings in the preceding quarter were Rs489m.

According to Arif Habib Ltd, the loss was mainly on the back of a surge in financial charges, substantial decline in other income and higher cost of production.

Net sales grew to Rs47.73bn, up 32pc year-on-year amid a series of upward revisions in car prices together with higher volumetric sales, which went up 31pc annually.

Published in Dawn, April 27th, 2022