POL Q1 profit up 28% thanks to better sales

KARACHI: Pakistan Oilfields Limited (POL) profit rose 28% to 4.73 billion rupees for the quarter ended September 30, due to higher sales of the company.

In a statement to the Pakistan Stock Exchange (PSX) on Friday, the company reported net profit of 4.73 billion rupees for the quarter ended September 30, up from 3.69 billion rupees the previous year. POL skipped a dividend for this period.

Earnings per share (EPS) stood at Rs16.65, up from Rs13.05 last year.

The company said its revenue for the year was 13.37 billion rubles, up from 9.85 billion rupees a year earlier. The company said its other income increased to Rs 2.52 billion, from Rs 295.62 million in the same period last year.

Shell first quarter profit down 84%

Shell Pakistan Limited (SPL) profit fell 84% to 296.572 million rupees in the quarter ended September 30, 2021, resulting in EPS of 1.39 rupees, according to a stock exchange document.

The company posted a profit of 1.812 billion rupees with EPS of 11.72 rupees from July to September 2020. Shell did not announce any dividends.

According to a company statement, the nine months of 2021 saw a significant recovery from a very difficult last year. This encouraging turnaround is mainly due to improved business performance by focusing on strategic priorities such as differentiated fuels and lubricants, profitability and safety for employees and customers.

Net profit amounted to 2.447 billion rupees in the nine months of 2021, compared to a loss of 6.061 billion rupees during the same period in 2020.

During this period, the mobility company successfully launched Shell Recharge, an electric vehicle charging station in Karachi, in collaboration with K-Electric Limited, aiming to lead the energy transition and deliver the best value proposition. client in Pakistan. The lubricants business was expanding its product offering through the diesel engine oils segment, which would help the company continue to grow, the statement said.

Engro Corp Q3 earnings down 34pc Engro Corporation reported a 34% drop in third quarter net earnings, due to increased operating expenses.

In a statement to PSX, the company announced net profit of Rs 6.11 billion for the quarter ended September 30, up from Rs 9.28 billion the previous year. An interim dividend of Rs5 / share was also announced, which was in addition to the interim dividend already paid at Rs19 / share.

EPS stood at Rs 10.62, up from Rs 16.12 last year.

Revenue for the year reached Rs 84.26 billion, up from Rs 75.33 billion a year earlier, while cost of sales for the period rose to Rs 61.26 billion, from Rs 53.51 billion Rs the previous year.

For the nine months ended September 30, the company posted a profit of Rs 23.17 billion, compared to Rs 18.34 billion in the same period last year.

EPS for this period was recorded at Rs40.22 against Rs32.31 last year.

According to Arif Habib Limited, on the fertilizer front, the profitability of Engro Fertilizer Limited reached 4,412 million rupees (EPS: 3.30 rupees), down 37% year-on-year in the third quarter of the year. year 21. This happened due to a drop in urea and DAP withdrawals of 9% and 46% year-on-year, respectively, as well as a 324 basis point drop in gross margin in year-on-year change, which has stood at 25.72% since the end of the gas concession period on June 30, 2021.

Engro Polymer and Chemicals Limited’s net profit came in at 3,107 million rupees (EPS: 3.42 rupees), up 65 years year-on-year in the third quarter of year 21 amid volume sales of Higher PVC (64,000 tonnes) and historic PVC prices.

Engro Powergen Qadirpur Pakistan Limited recorded a net profit of 558 million rupees (EPS: 1.72 rupees) in the third quarter of year 21 compared to 722 million rupees (EPS: 2.23 rupees) in the same period last year, down 23% year-on-year due to the absence of the debt part. .

In addition, Friesland Campina Engro Pakistan Limited posted a net profit of 545 million rupees (EPS: 0.71 rupees) in the third quarter of year 21, showing a considerable jump of 19 times year-on-year, thanks to growth gross margins of 434 bps, reaching 16% given higher sales volumes.

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