KARACHI, April 26: At the fag end of the result season, two state-owned listed entities declared financial results for varying periods on Friday.

PIA: Pakistan International Airlines, the national flag carrier announced results for the year ended Dec 31, 2012 declaring after tax loss for the year at Rs32 billion, up from Rs27 billion loss suffered the earlier year.

Net revenue of the airline declined to Rs125bn in 2012, from Rs127 billion the earlier year. On the cost of services side, aircraft fuel costs amounted to Rs61bn, down from Rs63bn YoY.

“Other expenses” remained at the height of Rs59bn in both the years. Gross profit declined to Rs4.6bn, from Rs5.8bn. Administrative expenses rose to Rs12bn, from Rs11bn and ‘exchange loss’ rose to Rs7bn, from Rs4bn.

However, “other operating income” was up to Rs3.3bn, from Rs526m, which rescued the results from being poorer. Finance costs also went up to Rs12bn in the year under review from Rs10bn the year ago.

PNSC: Pakistan National Shipping Corporation announced results for the 9MFY2013 showing a hefty growth in PAT at Rs1.2bn and eps at Rs9.09, compared with PAT at Rs544m and eps at Rs4.12 in the comparable period of last year. Revenues surged to Rs8.2bn, from Rs6.6bn YoY. Gross profit scaled to Rs2.6bn, from Rs1.5bn. Profit before taxation was up at Rs1.6bn

in nine months under review from Rs687m same time last year.

KESC: The monopoly Karachi Electric Supply Company posted after tax profit at Rs4.57bn for the nine months to March 2013 (9MFY2013), which converted to earning per share (eps) at Re 0.18. The utility jumped out of the red of Rs4.96bn and loss per share at Re0.19 in the corresponding period of the previous year (9MFY2012). Profit before tax amounted to Rs2bn compared with loss of Rs5.46bn YoY.At the stock market, investors took the results in stride; the KESC share was down by 2 paisa to Rs5.66 on trading in 1m shares. Sale of energy-net increased to Rs79bn for nine months under review, from Rs63bn same time last year.

Pak Suzuki Motor: The company announced results for the first quarter ended March 31 2013 (1QFY13) posting profit after tax at Rs362 million, down from Rs589 million earned in the same quarter in 2012. Earning per share worked out at Rs4.40 and Rs7.15. Turnover stood down to Rs13.6bn in the quarter under review, from Rs18.8bn same quarter last year. Gross profit declined to Rs645m, from Rs978m QoQ.

PICT: Pakistan International Container Terminal posted profit after tax at Rs636 million translating into earning per share at Rs5.82 for the quarter ended March 31, 2013. The earnings represented growth from Rs402 million and eps at Rs3.17 earned in the corresponding quarter of last year. Turnover-net rose to Rs2.0bn in the latest quarter, from Rs1.8bn over same quarter last year. Gross profit improved to Rs1.13bn, from Rs774m. “Other operating profit” plunged to Rs27m, from Rs60m QoQ.