KARACHI: Pakistan State Oil Company Ltd posted an all-time high quarterly profit of Rs11.99 billion for July-September, up 133 per cent from a year ago, a stock filing showed on Monday.

Arif Habib Ltd attributed the jump in earnings to a 34pc yearly growth in volumes as well as the inventory gains of Rs7bn in the quarter under review. These gains amounted to Rs1.5bn in the same three-month period of 2020-21.

The company declared no payout.

Fauji Cement profit soars 95pc

Fauji Cement Company Ltd pos­ted a net profit of Rs1.36bn for July-Sep­tember, up 95.3pc from a year ago.

The result was above market expectations, according to AKD Securities, mainly on account of higher-than-expected top line. Sales grew 26.1pc year-on-year to Rs6.93bn, thanks to higher despatches. It didn’t announce any dividend.

Lucky Cement earnings grow 47pc

Lucky Cement Company Ltd reported unconsolidated earnings of Rs3.28bn for the first quarter of 2021-22, 47pc higher than the same quarter of the preceding fiscal year.

The result was above market expectations, according to Insight Securities, mainly because of better gross margins.

On a consolidated basis, the company’s earnings per share were Rs20.60 versus Rs13.50 last year mainly because of an increase in profits of both ICI Pakistan and Lucky Motor Corporation Ltd.

The company made no payout announcement.

Faysal Bank income up 24pc

Faysal Bank Ltd said on Thursday its profit for the July-September quarter clocked in at Rs2.14bn, up 24pc from a year ago.

Its earnings in the first nine months of 2021 amounted to Rs6.2bn, up 12pc from the corresponding period of 2020.

The bank’s net spread, which is the difference between interest earned and interest expense, amounted to Rs18.9bn in the nine-month period, down 1pc on a yearly basis. Seque­ntially, the net spread improved 8pc.

According to Arif Habib Ltd, reduced provisioning fuelled the highest nine-month profit for the bank. Provisioning expenses went down 90pc during the period to settle at Rs216m.

The company didn’t announce a dividend.

Pak Suzuki earns Rs994m

Pak Suzuki Motor Company Ltd made earnings of Rs994 million in July-September versus a net loss of Rs546m a year ago.

Its sales during the quarter under review stood at Rs50.26bn, witnessing an increase of 122pc. The company didn’t declare a payout.

BOP profit rises 50pc

Meanwhile, reduced provisioning and higher net interest income fuelled the bottom line of the Bank of Punjab (BOP) to Rs8.7bn in January-September, up 50pc from a year ago.

Standard Chartered income dips

Net income of Standard Chartered Bank for the first nine months of 2021 dropped 16.7pc to Rs9.91bn.

BankIslami earns Rs1.8bn

Earnings of BankIslami Pakistan for the nine-month period increased 5.3pc to Rs1.85bn.

Published in Dawn, October 29th, 2021