KARACHI, April 30: Several companies announced financial results on Tuesday. A few of significant interest to investors include the following:

Adamjee Insurance: The company reported first quarter January-March profit after tax (PAT) at Rs701m or earning per share (eps) at Rs5.67 compared to profit-after-tax at Rs293m and eps Rs2.37 in the first quarter of 2012.

The board also announced final dividend for year ended Dec 31, 2012 at Re1 per share (10pc). The underwriting business remained stable and the high investment income in the quarter augmented company profits.

AICL recorded underwriting business growth of 2pc to Rs46m while investment income surged by 143pc to Rs709m.

Analysts at Topline Securities observed that on quarterly basis, company’s bottom line turned positive from loss of Rs218m (loss per share at Rs1.80) in the fourth quarter of 2012.

In addition to high investment income, stable insurance business assisted in the turnaround. Investment income also grew by 63pc from Rs436m in the fourth quarter of 2012.

Pakistan Petroleum Ltd: The company announced its nine months of fiscal year 2013 profit-after-tax at Rs33.5bn or earning per share at Rs20.41, up 4pc against Rs32.3bn and earning per share at Rs19.64 in the same period last year.

According to Nauman Khan, analyst at brokerage Topline Securities, growth in earnings was the result of 8pc increase in company’s topline and upswing of 9pc in other income.

During nine months of fiscal year 2013, PPL’s topline stood at Rs77.2bn as against Rs71.5bn in nine months of fiscal year 2012 as it benefited from higher oil production, particularly from Nashpa field, weakness in the rupee against the dollar and higher net realised gas prices.

The company’s oil production during nine months of fiscal year 2013 was believed to have risen by about 16pc while its gas production may have declined 9pc.

In the third quarter of fiscal year 2013, the company posted an earning per share of Rs6.8 which showed a decrease of 8pc from the same quarter last year, but was up by a meagre 2pc on sequential basis.

Global Research stated that the third quarter of fiscal year 2013 earnings at Rs11.21bn (eps of Rs6.82) were below estimates of around Rs7.53 per share on the back of higher field expenditures and lower income from investments.

The third quarter of fiscal year 2013 earnings were 8pc year-on-year lower than Rs12.2bn (eps Rs7.40) in the same quarter last year.

Fauji Cement Company: The FCCL announced earning per share of Rs1.18 for nine months of fiscal year 2013. It was up 10 times over the eps at Re0.11 in the same period last year.

FCCL’s new production line enabled it to post volumetric growth of 26pc.

Aided further by rising net retention price, the company recorded topline growth of 56pc to Rs11.6bn as against Rs7.5bn during the corresponding period last year.

Revenue per ton of the company rose by 24pc to Rs6.31bn as against Rs5.08bn during the same period previous year while cost per bag edged higher by 8pc.

This resulted in gross margins expansion by to 32pc. Benefiting from lower interest rate environment, FCCL’s finance cost stood reduced by 4pc to Rs1.15bn.

In the third quarter of fiscal year 2013, the company posted profit-after-tax at Rs647m (eps Rs0.49) as against Rs562m (eps Rs0.42) in the second quarter of fiscal year 2013, up 15pc, while it was 2.5 times higher than profit-after-tax at Rs243m (eps Rs0.18) in the same period last year.

Analyst Asad I Siddiqui stated that despite contraction in margins at gross level, lower financial charges due to slower declining interest rates and rupee devaluation as against dollar were the prime factors for FCCL’s profitability growth in the third quarter of fiscal year 2013.