SBP Conducted an OMO (Repo) on Friday in which it mopped up Rs.34.950 Billion from the market for 7 Days.
| Amount* | Rate | Bids | |||||
|---|---|---|---|---|---|---|---|
| Tenor | Type | Offered | Accepted | High – Low | Accepted | Offered | Accepted |
| 7D | Repo (Mop-Up) | 73.500 | 34.950 | 5.99 % – 5.97 % | 5.97 % | 6 | 4 |
| Total amount offerred at 5.97% was PKR 63,000.00 mio, out of which SBP accepted PKR 34,950.00 mio on pro rata basis | |||||||
| OMO Settlement: Same Day (Apr 06, 2018) | |||||||
| *Amount in Billions | |||||||
February 26, 2020 (MLN): Gold witnessed a decrease in demand today as it lost Rs 400 in today’s session to settle at Rs 94,750 per 12 gram. The valuable yellow metal had closed at Rs 95,150 per 12 gram on previous trading day.
According to the Karachi Sarafa Association, gold price per 10 gram clocked in at Rs 81,233, down by Rs 343 from Rs 81,576 per 10 in the previous trade.
On the other hand, the silver prices remained flat and closed at Rs 1050 per 12 gram. Similarly, 10-gram silver pegged at Rs 900.2.
In the global market, gold prices went down by $7 to $1,648 per ounce, while silver was valued at $18.12 per ounce.
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February 26, 2020 (MLN): The Stock prices of Oil refining companies have plunged sharply by 14% since January 2020.
This sharp downcast in oil demand witnessed as buying from airlines declined.
Company-wise, the stock price of National Refinery Limited (NRL) dropped by 24% whereas, the stock price of Attock Refinery Limited (ARTL) fall by 22%.
Whereas, BYCO Petroleum Limited (BYCO) and Pakistan Refinery Limited (PRL) has witnessed 2% and 7% fall in its stock prices so far since January 2020.
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February 26, 2020 (MLN): The closure of Taftan border, amidst rising fears emanating from Covid-19 infection in the region, has resulted in the stoppage of LPG supplies from Iran.
It is imperative to mention that around 800 to 1000 metric tons of LPG arrive from Iran to Pakistan on a daily basis, and disturbance to supply of such a level has impacted the prices.
As per sources, the price of LPG post closure of Tatan border has increased by Rs. 50 to Rs. 200 per kg.
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February 26, 2020 (MLN): Pakistan Stock Exchange Limited (PSX) has reported net profits of Rs 120.5 million for the half-year ended on December 31, 2019, against the profits Rs 51.88 million reaped in the corresponding period of last year, marking a considerable jump of 132.24% YoY.
This has translated into earnings per share of the company which exhibited an increase of 150% from Rs 0.06 per share to Rs 0.15 per share.
During the period, PSX revised its Annual Listing Fee for the companies and cut down subsidies on the facilities provided to the TREC & Non-TREC holders which resulted in an increase in its overall revenues by 9.67% YoY from Rs 448.5 million to Rs 491.9 million.
The revenues of the company collected from listing Fee rose by 18.33% YoY, revenues from interest income surged by 25.21% YoY due to higher interest rates and income earned from exchange operations increased by 1.47% whereas, its rental income from investment property declined by 21.47% YoY.
The share of profits from Associates grew slightly by 4%YoY in contrast to the corresponding period of last year due to higher profits reported by the associates also provided a boost to the company’s earnings.
Consolidated Profit and Loss statement for the half-year ended December 31, 2019 ('000 Rupees) | |||
|---|---|---|---|
| Dec-19 | Dec-18 | % Change |
Revenue |
|
|
|
Listing fee | 201,012 | 169,873 | 18.33% |
Income from exchange operations | 189,000 | 186,269 | 1.47% |
Mark-up/interest income | 78,664 | 62,824 | 25.21% |
Rental income from investment property | 23,225 | 29,573 | -21.47% |
| 491,901 | 448,539 | 9.67% |
Operating cost |
|
|
|
Administrative expenses | (559,217) | (578,289) | -3.30% |
Other charges | (45) | (32) | 40.63% |
| (559,262) | (578,321) | -3.30% |
Operating loss | (67,361) | (129,782) | -48.10% |
Other income | 2,485 | 7,364 | -66.25% |
Share of profit from associates | 185,835 | 179,009 | 3.81% |
Net profit before taxation | 120,959 | 56,591 | 113.74% |
Taxation | (453) | (4,703) | -90.37% |
Net profit after taxation | 120,506 | 51,888 | 132.24% |
Basic and diluted earnings per share (Rupees) | 0.15 | 0.06 | 150.00% |
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February 26, 2020 (MLN): Oil and Gas Development Company (OGDC) has announced the financial results for six months ended December 31, 2019, whereby it has reported net profits of Rs. 53.1 billion (EPS: Rs. 12.37), almost 6% lower than the profits of the same period last year.
The company also announced an Interim Cash Dividend for the quarter ended December 31, 2019, at Rs. 1.75 per share i.e. 17.5%. This is in addition to interim dividend already paid at Rs. 2.5 per share i.e. 25%.
The sales were up by 5.16% owing to the higher selling price resulting from the devaluation of PKR. On the other hand, the non-core income fell by 33% as there no one-off exchange gains present during the period. According to a search note by IGI Securities, the decline in non-core earnings was limited by the retrospective impact of revision in Uch field gas price notified by OGRA.
The company’s exploration costs depicted a 1.3x increase due to costs pertaining to one dry well and higher prospecting expense.
The finance costs also showed a substantial increase of 81% on the back of high-interest rates prevailing in the market.
Profit and Loss Account for the six months ended December 31, 2019 ('000 Rupees) | |||
|---|---|---|---|
Dec-19 | Dec-18 | % Change | |
Sales - net | 133,441,268 | 126,897,761 | 5.16% |
Royalty | (15,215,640) | (14,239,713) | 6.85% |
Operating expenses | (30,559,838) | (29,634,319) | 3.12% |
Transportation charges | (812,515) | (787,931) | 3.12% |
Gross profit | 86,853,275 | 82,235,798 | 5.61% |
Other income | 7,927,013 | 11,850,503 | -33.11% |
Exploration and prospecting expenditure | (10,425,171) | (4,481,784) | 132.61% |
General and administration expenses | (2,819,495) | (1,787,272) | 57.75% |
Finance cost | (1,499,901) | (829,631) | 80.79% |
Workers' profit participation fund | (4,149,267) | (4,459,962) | -6.97% |
Share of profit in associate - net of taxation | 2,949,618 | 2,211,624 | 33.37% |
Profit before taxation | 78,836,072 | 84,739,276 | -6.97% |
Taxation | (25,651,628) | (27,982,918) | -8.33% |
Profit for the year | 53,184,444 | 56,756,358 | -6.29% |
Basic and diluted earnings per share - Rupees) | 12.37 | 13.20 | -6.29% |
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