Corporate Results Roundup: HSM reports profits amidst a general downward trend

January 31, 2019 (MLN): While some companies within KSE 100 released their financial earnings todays, other companies also released their reports and a summary of their performance is compiled below.

Bela Automotive Limited (BELA)’s annual performance for the term ended on June 30^th 2016 deteriorated further as it incurred another major loss worth Rs.10.8 million, primarily due to a major plunge in topline which logged in at Rs.2.7 million.

Although the company managed to cut down on its outflows, the resulting impact failed to offset the damage. BELA reported basic loss per share at Rs.1.87.

Meanwhile Sind Abadgar Mills Limited (SASM) reported a loss worth Rs.103.8 million in its first quarter ended December 2018, although the earnings were a remarkable improvement from last year’s loss worth Rs.236.9 million. SASM’s loss per share is reported at Rs.9.96.

Hussein Sugar Mills reported its profit after tax for the year ended on September 30th 2018 declined substantially by 98% to Rs.32.7 million with EPS recoded at Rs.1.55.

On the contrary, Mubarak Textile Mills Limited has reported its loss for the year ended June 30th 2018 increased significantly by 170% to Rs.4.4 million. The company exhibited its loss per share at Rs.0.79.

Adam Sugar Mills Limited’s losses increased by Rs. 28 million at Rs. 30 million for the said period, on account of increase in the company’s cost of sales as well as major expense heads.

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