Daily Corporate Roundup

February 20, 2019 (MLN): Nishat Power Limited’s profits for the half year ended December 31, 2018,  improved by 13.7% at Rs. 1.8 billion (EPS: 5.362), as compared to Rs. 1.6 billion earned in same period last year. The company’s revenue improved by 12%, which led to a stronger financial position.

Samba Bank Limited’s bottom-line earnings for the year ended December 31, 2018 clocked in at Rs. 2.3 billion, i.e. 28% more than last year. The bank’s profitability got impetus from stronger mark-up and non-mark-up income which grew by 17.3% and 11% respectively.

Security Leasing Corporation Limited managed to chop down its half yearly losses by over 72% as compared to the corresponding period of last year, recording them at Rs.12.9 million, down from a loss of Rs.46.9 million, while loss per share is Rs.0.35.

Meanwhile, Sitara Peroxide Limited successfully reversed last year’s losses to a profit of Rs.184 million during the six month period ended in December 2018, reporting its EPS at Rs.3.34.

The primary cause for this remarkable improvement is the considerable expansion in topline earnings which entailed a gross profit during the period instead of a gross loss recorded in the corresponding period last year.

On the contrary, Dynea Pakistan Limited declared profits of Rs. 136 million (EPS: 7.24) for the half year ended December 31, 2018, around 29% lower than the earnings of corresponding period last year. This negative change was a result of increased cost of sales and operating expenses of the company.

Similarly, JS Global Capital Limited’s profits for the year suffered enormous decline of 70%, mainly due to heavy fall in operating revenues and capital gains, as well as increase in unrealized losses and operating expenses. The PAT and EPS of the company for the said period stood at Rs. 25 million and Rs. 0.67 respectively. 

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