KARACHI: The Pakistan State Oil posted 1HFY18 profit after tax at Rs8.52 billion translating into earnings per share (EPS) at Rs26.14 compared to Rs10.02bn (EPS: Rs30.72) the previous year, depicting a decline of 15pc year-on-year.

For the second quarter of 2017-18, net profit was Rs3.49bn (EPS: Rs10.71), down 38pc. Lack of inventory gains on high speed diesel due to a shortage of supply and lower utilisation from refineries contributed to these depressed results, offsetting inventory gains on furnace oil by inventory losses on gasoline as a result of unfavourable import differentials.

Nestlé earnings grow 24pc: Nestlé Pakistan released results for the year ended Dec 31, 2017, posting PAT at Rs14.64bn (EPS: Rs322.86), up 24pc from Rs11.85bn (EPS: Rs261.23) in 2016. The revenue clocked in at Rs122.2 billion in 2017, increasing by 8.7pc compared to the previous year. “The healthy top line growth was achieved through effective innovation and renovation of the product mix, numeric distribution expansion and investment behind brands,” Nestle said in a statement.

ABL earns Rs12.9bn: Allied Bank Ltd on Wednesday announced consolidated PAT at Rs12.9bn (EPS: Rs11.29) for CY17, down 12pc from Rs14.7bn (EPS: Rs12.84) last year. It also announced a dividend of Rs1.75 per share, bringing the total payout to Rs7 per share.

Nishat Power profit down: The company posted PAT of Rs809m (EPS:

Rs2.3) in the 2QF­Y18, down 5.9pc over Rs860m (EPS: Rs2.4) in the preceding quarter.

The company skipped its payout which analysts thou­ght could be due to the worsening circular debt situation.

Published in Dawn, February 22nd, 2018