KARACHI: Different companies have released their financial figures for the quarter and half year ended Dec 31, 2014.
The largest composite textile mill of the country, Nishat Mills Limited (NML) declared profit-after-tax (PAT) for the 1HFY15 at Rs1.93 billion, which translated into earnings per share (eps) of Rs5.52, down 49.7 per cent YoY, compared to Rs3.9bn and eps of Rs10.9 in the corresponding half of last year. However, the company posted profits of Rs1.5bn (eps Rs4.4) in 2QFY15, which was 32pc lower than Rs2.3bn (eps Rs6.5) in 2QFY14 while up by 285pc QoQ. The results were generally in line or slightly better than average analysts forecasts.
Analyst Muhammad Tahir Saeed noted that revenues of the company declined by 4.9pc to Rs26.7bn in 1HFY15 as compared to Rs28.1bn in the same period last year mainly due to appreciation of rupee against the dollar. On consolidated basis, company reported earnings of Rs4.4bn (eps of Rs9.7) in 1HFY15 as compared to Rs5.0bn (eps of Rs12.5) in the same period last year.
Investment analyst S.M. Shamim at AKD Securities commented that 2QFY15 results were above expectations due to higher ‘other income’ which clocked in at Rs1.50bn. As a result, 1HFY15 earnings settled at Rs1.94bn (eps of Rs5.52) against PAT of Rs3.85bn (eps of Rs10.96) in 1HFY14, down by 49.7pcYoY.
On the other hand, the largest leasing company of the country, announced PAT at Rs321.9 million for the half year ended Dec 31, 2014, representing a growth of 31pc over the PAT at Rs245m in the 1HFY14. Earnings per share rose to Rs3.92 from Rs2.99 in the previous corresponding period.
The company’s revenues rose by 13pc to Rs2.1bn for the half year FY15, which analysts said could be attributed to 22pc increase in business volume.
All segments of business reflected improvement and the contribution of share of profit from overseas associated companies increased by 29pc to Rs137m.
The finance costs rose by 5pc mainly because of increase in borrowings to fund the growth of business.
The company’s asset base witnessed expansion of 8pc mainly due to increase in investment in finance lease.
President summons NA, Senate budget sessions on June 5
ISLAMABAD: President Asif Ali Zardari has summoned sessions of the National Assembly and Senate on June 5, with both houses...
