Corporate Roundup: equity market observes mixed results

February 13, 2019 (MLN): As the earning season progresses, the Pakistan Stock Exchange is again found with a number of results issued by the companies within the equity markets. Based of these documents, the following information has been divulged:

NetSol Technologies Limited (NETSOL) has reported around 11%, YoY improvement in bi-annual profitability during the first half of Fiscal year 2019 (1HFY19).

The company’s net income for the period is Rs.664 million with an EPS of Rs.7.08, disclosed NETSOL’s consolidated financial accounts issued to the Pakistan Stock Exchange (PSX).

A lot of this improvement is attributed to the remarkable performance during last quarter when the company observed 11.3%, expansion in net gains on a year-on-year basis.

During the six month period, the company’s net revenue (Rs.2.6 billion) soared substantially as compared to last year’s corresponding period (Rs.1.96 billion), which resulted in higher gross profits.

Similarly, Rafhan Maize Products limited (RMPL)’s annual profits in CY18 improved reasonably, logging in at Rs.4.77 billion (EPS: Rs.516.62), up from Rs.4.4 billion (EPS: Rs.475.54) recorded at the end of December 2017.

The primary reason for Rafhan’s higher profits was increased net sales over the year, which grew by over Rs.3 billion, YoY.

Meanwhile, Modaraba Al-Mali has recorded around Rs.800 thousand decline in half yearly profits which logged in at Rs.3.9 million, with EPS at Rs.0.21. This fall happened despite a considerable rise of over Rs.1 million in non-core income.  

Going along similar lines, Al-Ghazi Tractors Limited (AGTL)’s net profit during CY18 fell by around Rs.670 million to stand at Rs.2.45 billion with an EPS of Rs.43.31.

And finally, by taking a few extra steps in the same direction, EFG Hermes (EFGH) incurred an annual loss of Rs.45.6 million, which is a huge leap from last year’s loss of Rs.10.88 million.

The company’s topline witnessed tragic declines, the negative impact of which kept building as higher expenses continued to gather until the losses magnified by more than three-folds.

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