KARACHI: Engro Corporation posted consolidated profit after tax (PAT) at Rs5.941 billion for the quarter ended March 31, down from Rs6.565bn in similar period last year.

Profit attributable to the owners stood at Rs3.317bn during 1QCY20, as against 4.010bn.

On a standalone basis, the company recorded PAT at Rs780m (earnings per share: Rs1.35), plunging from Rs3.832bn in the same period last year. “This decrease is primarily attributed to delays in receipts of dividends from subsidiaries as their Annual General Meetings have been postponed on account of the COVID-19 lockdown. This is, therefore, a temporary timing difference between quarters and not reflective of underlying performance of the Company” Engro said in a statement.

The board also announced an interim cash dividend at Rs6 per share for the first quarter.

PPL earns Rs39.2bn

Pakistan Petroleum Ltd (PPL) declared PAT at Rs39.2bn and EPS at Rs14.42 for 9M2020, down 13pc from PAT at Rs45.3bn and EPS Rs16.63 in same period last year.

The decline in profit was also on account of 50pc drop in ‘’other income’’ to Rs4.1bn, from Rs8.2bn, while net sales improved 6pc to Rs126.2bn, from Rs119.2bn.

Pakistan Oilfields profits surge

Pakistan Oilfields reported PAT of Rs14bn (EPS: Rs49.11) during 9MFY20, jumping 25pc over net income of Rs11.2bn and EPS at Rs39.45 in same period last year.

Sales slipped 1pc to Rs32.4bn, from Rs32.9bn.

DGKC bottom line turns red

DG Khan Cement Company (DGKC) recorded loss after tax (LAT) at Rs1.85bn and loss per share of Rs4.22 for 9MFY20, which compared with PAT amounting to Rs2.63bn and EPS at Rs5.99 in the corresponding period of previous year.

Sales were slightly up to Rs30.6bn, from Rs30.4bn but a heavy fall of 78pc in gross profit and jump in financial charges by 62pc cast the bottom line in the red.

Kohat Cement posts loss

Kohat Cement Company announced LAT at Rs283m, translating into LPS of Rs1.41 for the nine months ended March 31.

This was against PAT at Rs2.17bn and EPS at Rs10.81 for same period last year. The company’s sales decreased 30pc to Rs8.6bn, from Rs12.2bn.

Bank Al Habib PAT at Rs2.9bn

Bank Al Habib’s PAT grew by 39pc to Rs2.86bn during January-March, translating into EPS of Rs2.57, said a press release issued on Thursday.

In the same period last year, PAT was reported at Rs2.06bn.

The bank improved its net mark-up income by 14.30 per cent while that from commission — earned mainly through trade business, general banking services, alternate delivery channels, — rose 18.25pc. Similarly, foreign exchange income surged by 41.43pc.

United Bank profitability jumps

United Bank Ltd (UBL) announced 1QCY20 PAT of Rs4.912bn, up 21pc over Rs4.052bn in the same quarter of 2019. The bank also announced a dividend of Rs2.50 per share.

Net interest income rose to Rs17.789bn, compared to Rs14.967bn in the same quarter of CY19 while total interest expenses also went up to Rs10.715bn, from Rs9.948bn.

Soneri Bank income dips

Soneri Bank declared PAT for the first quarter at Rs407m, down compared to Rs691m in the same period of 2019. This translated into EPS of Rs0.37 for the period, as against Rs0.63. Net Interest Income (NII) was reported at Rs2.109bn for 1QCY20, improving 6pc from Rs1.996bn.

Published in Dawn, April 24th, 2020