Daily Corporate Roundup

February 19, 2019 (MLN): Kohinoor Energy Limited has declared profits of Rs. 420 million and EPS of Rs. 2.48 for the half year ended December 31, 2018, i.e. approximately 36% higher than that of corresponding period last year.

The growth in profits was a result of increase in company’s sales revenue and fall in taxes, causing a twofold positive impact on the overall profitability.

It also announced an interim cash dividend for the financial year 2018-2019 at the rate of 1.5 per share i.e. 15%.

Emco Industries Limited’s profits for the aforementioned period doubled over the same period last year, as its top line earnings showed tremendous growth. The company’s PAT stood at Rs. 52 million as compared to Rs. 22 million last year, where its EPS was reported at Rs. 1.5. 

Meanwhile Nimir Industrial Chemical Limited stated its bottom-line earnings at Rs. 406 million, i.e. 35.7% higher than the same period last year. Once again, the reason for increase in the profits was attributed to improved sales revenue, which was large enough to cover surging cost of sales and operating expenses.

The company also announced interim cash dividend of Rs. 1.5 per share, i.e. 15%.

Otsuka Pakistan Limited on the other hand reported losses of Rs. 77 million for the same period, as a result of amplified core and non-core expenses. The Loss per share for the company was stated at Rs. 6.43.

This was followed by BIPL securities, which incurred losses of Rs. 26 million for the year ended December 31, 2018, as opposed to profits earned last year. The fall in operating revenue as well as absence of tax rebates took their toll on the company’s profitability. Moreover, the Loss per share was reported at Rs. 0.27.

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