EFERT Result Review – Earnings recover amid rising off-take

Engro Fertilizers (EFERT) announced its results earlier today, posting earnings of PKR 3,886mn (EPS: PKR 2.91) during 2QCY20, up 7x QoQ compared with earnings of PKR 571mn (EPS: PKR 0.43) recorded the preceding quarter. Earnings growth largely emanated from higher off-take during the period. On a cumulative basis, the company’s earnings dipped by 38% YoY… Continue reading EFERT Result Review – Earnings recover amid rising off-take

Pakistan cements result previews – A tough year concludes

The Pakistan Cement Industry concluded one of its toughest years during FY20 with majority of the manufacturers expected to close in red. Prime reasons for eroding profitability include: 1) lower pricing amidst an expansion-driven price war, 2) Pak Rupee depreciation inflating energy costs, 3) high interest rates in tandem with a debt-heavy balance sheet, and… Continue reading Pakistan cements result previews – A tough year concludes

Habib Bank Limited (HBL) 2Q2020 conference call takeaways

Habib Bank Limited (HBL) held a conference call for Analysts and Investors today. The management reviewed 2Q2020 results and gave guidance regarding the future outlook of the bank. Key highlights of the conference call were: Most of the costs related to the closure of its New York branch have been incurred. HBL spent ~USD30mn in… Continue reading Habib Bank Limited (HBL) 2Q2020 conference call takeaways

FFC – earnings depict consistency amidst the pandemic

Fauji Fertilizers Company (FFC) announced its financial results earlier today, posting earnings of PKR 4,874mn (EPS: PKR 3.83) during 2QCY20 compared to PKR 5,209mn (EPS: PKR 4.09) recorded during 2QCY19, a fall of 6% YoY. On a cumulative basis, FFC’s earnings rose by 3% YoY to PKR 9,136mn (EPS: PKR 7.18) during 1HCY20. Along with… Continue reading FFC – earnings depict consistency amidst the pandemic

Habib Bank Limited (HBL) 2Q2020 Result: EPS at PkR7.53/sh – 60% above consensus

Habib Bank Limited (HBL) reported 2Q2020 result today, posting consolidated Profit after Tax (PAT) of PkR 11.04bn (EPS of PkR7.53/sh), up 16xY/Y and 1.7xQ/Q. The result is above market consensus (PKR 4.7/sh) and KASB estimates (PKR 4.26/sh) by 60% and 77%, respectively. Moreover, as per SBP’s directive, the bank did not declare any interim cash… Continue reading Habib Bank Limited (HBL) 2Q2020 Result: EPS at PkR7.53/sh – 60% above consensus

Pakistan Banking Sector Result Preview- Banks to post decent 2Q20 results despite of high provisioning

-We think the key issues to look out for in 2Q20 results will be 1) The sensitivity of core income to the interest rates cut and 2) rise in provisions. –In 1Q2020, provisions for the sector increased by 8.9x Y/Y. We expect this trend to continue and provisioning expense to remain high in 2Q2020.  Moreover,… Continue reading Pakistan Banking Sector Result Preview- Banks to post decent 2Q20 results despite of high provisioning

HCAR starts year on a depressed note

– Honda Atlas Cars (HCAR) announced its financial results earlier today, posting a loss of PKR 511mn (EPS: PKR -3.58) during 1QMY21 compared with earnings of PKR 242mn (EPS: PKR 1.69) during 1QMY20. Profitability attrition can largely be attributed to subdued sales during the period under review. – HCAR’s revenues eroded by 64% YoY to PKR 6,512mn during… Continue reading HCAR starts year on a depressed note

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Categorized as Auto, Sector

FFBL announces a loss of PKR 1.24/sh during 2QCY20

– FFBL announced its result for 2QCY20 earlier today, posting a loss of PKR 1,160mn (EPS: PKR -1.24) compared with a loss of PKR 84mn (EPS: PKR -0.09) recorded during 2QCY19. Cumulative loss for 1HCY20 stood at PKR 4,207mn (EPS: PKR -4.50) against a loss of PKR 1,951mn (EPS: PKR -2.09) posted during 1HCY19. – FFBL’s revenues grew… Continue reading FFBL announces a loss of PKR 1.24/sh during 2QCY20