PTCL profit jumps 69pc to Rs8.8bn despite revenue drop


KARACHI: Pakistan Telecommu­nication Company Ltd’s profit jumped 69.23 per cent to Rs8.8 billion (earnings per share Rs1.72) during 2015 from Rs5.2bn (eps Rs1.02) the previous year.

The PTCL board, which met in Islamabad on Wednesday, declared a cash dividend of Re1 per share, which was in addition to an interim dividend of the same amount paid earlier.

According to a press release the company’s revenues dropped to Rs75.8bn during the year under review from Rs81.5bn in 2014.

Pakistan Oilfields Ltd: POL announced profit for the first six months to Dec 31, 2015 at Rs3.67bn (eps Rs15.52). In 1HFY16, revenues declined by 32pc to Rs12.2bn, from Rs17.9bn YoY on the back of 56pc YoY dip in Arab Light Crude price. As a result, earnings of the company went down by 31pc YoY to Rs3.7bn from Rs5.35bn (eps Rs22.60).

The result also accompanied an interim cash dividend of Rs15 per share. This result was above market’s consensus estimates. POL announced 2QFY16 earnings of Rs2.3bn (eps Rs9.6) as against Rs1.2bn (eps Rs5) in 2QFY15.

Attock Cement Pakistan LTD: ACPL reported profit of Rs1.15bn for the six months ended Dec 31, 2015, up 12.5pc from net earnings of Rs1.02bn (eps Rs8.95) YoY.

Analysts attributed the growth to: change of sales mix in favour of high margin local dispatches; lower fuel and power costs and reduced distribution expenses due to declining export sales.

In 2QFY16 alone, ACPL reported earnings of Rs671m (eps Rs5.86) as compared to Rs481m (eps Rs4.2) in the preceding quarter, representing a growth of 40pc QoQ.

Attock Refinery Ltd: ARL announced profit-after-tax at Rs35m for half year to Dec 31, 2015 (eps at Rs0.40), converting from loss of Rs1.6bn (loss per share Rs18.60) YoY.

Sales declined to Rs42bn for latest half year, from Rs78.2bn YoY. Non-refinery profit amounted to Rs11.67 per share, down Rs12.24 per share YoY.

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