Daily Corporate Roundup

February 14, 2019 (MLN): The following companies released their financial earnings for the period ended December 31, 2018:

Wah Nobel Chemical (WAHN) announced 24% decline in their half yearly profits that stand at Rs.79.96 million while EPS is at Rs.8.88. During the last quarter in particular, the company recorded a 14.5% decline in profits on account of cost overrun.

Meanwhile, Eman Management Private Limited’s half yearly profits soared remarkably by 4 times of last year’s net income. The total net profit after tax recorded at the enc of December 2018 was Rs.50.8 million (EPS: Rs.0.68) whereas last year’s profit was Rs.12 million (EPS: Rs.0.16).

Similarly, Descon Oxychem Limited’s profits have grown by decent margins as well, marking an increase of Rs.211 billion and login in at Rs.315.6 billion (EPS: Rs.3.09 – basic and Rs.1.67 – diluted). The company further recommended a dividend payment at 10%.

Likewise, GoodLuck Industries Limited reported a remarkable increase in its profits to Rs 2.8 million for the half year ended on December 2018 compared to Rs 0.1 million corresponding period last year primarily due to decline in cost of sales. The company reported its earning per share at Rs 9.59.

On the other hand, Cherat Packaging Limited reported earnings of Rs.491 million for the half-year ended December 31, 2018, up by 54% as compared to same period last year. The uplift in bottom-lines was caused by improvement in the sales revenue of the company. It stated its EPS at Rs. 12.72

On the contrary, General Tyres Limited stated its Profit after Tax for the six months period ended December 31, 2019 at Rs. 91 million, down by 78% as compared to the corresponding period previous year. The fall in the company’s core income was the main reason behind the drop in net profits. The company stated its EPS at Rs. 0.9 for the said period.

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