KARACHI, Oct 16: Companies on Thursday announced their financial results for varying periods.
Hino Motors Limited: Condensed interim financial statements released by the company showed the company incurred a loss of Rs131 million for the quarter ended Sept 30, 2008, compared with profit at Rs177 million for the same time last year.
For the nine months term, the company posted eps at Rs35.92, compared with Rs12.08 in the same time last year. The nine months for the current year showed sales jump to Rs8,341 million, from Rs5,856 million in the corresponding period last year.
The last quarter ended September 30 for the year under review appears to have worsened overall results with financial cost the villain, shooting to Rs303 million, from only Rs17 million in the same period last year, resulting in a cumulative financial costs rising to the staggering figure of Rs457 million for the nine months Jan-Sept 2008, from Rs60 million in the comparable three-quarters of last year.
UBL Income Funds: The United Growth & Income Fund (UGIF) managed by UBL Fund Managers, yielded 11.59% p.a. during the quarter ending 30 Sept ‘08, a press release by the company stated.
The fund’s monthly yield during Sept stood at 13.06pc per annum. The United Money Market Fund (UMF) gave a return of 11.55pc p.a. during the 1QFY’09, whereas the monthly return during September ‘08 improved to 12.91% p.a. The yield for United Islamic Income Fund (UIIF) yielded 11.04% p.a. monthly yield during September ‘08. UIIF yield for the 1QFY’09 was 11.02% p.a.
The fund managers said that unlike bank deposits, the return earned from investment in income funds was tax free under existing tax laws. Investors also have the flexibility to withdraw their investment at their convenience without any minimum holding period requirement or penalty.
Rafhan Maize Products: The company reported profit after tax (PAT) at Rs379 million for the quarter July-Sept and at Rs1,198 million for the nine months July-Sept 2008, which showed a steep rise from PAT at Rs246 million for the similar quarter and Rs873 million for nine months last year.
Earning per share for nine months under review stood at Rs129.73, up from Rs94.56 in the corresponding three quarters of 2007. Net sales for the Jan-Sept period of 2008 stood at Rs8,251 million, up from Rs5,638 million in the same time last year.