It is not easy being a small bank in these testing times especially if you are actually doing what banks are supposed to do; lending to the private sector. Silkbank posted its 3Q CY13 financial results on Monday, with another below par performance. The losses further exacerbated from the previous quarter, as the weakness emanating from the top line trickled down to the bottom.
Commencing its four years into operations, Nishat Power Limited (NPL) announced its performance for 1Q FY14 yesterday. And from the looks of it, the independent power producer seems to have benefited from Rs7 billion paid by National Transmission and Dispatch Company Limited (NTDCL) in lieu of circular debt payables.
More good news for NetSol’s shareholders! After scoring its all-time high revenues and net profits in FY13, NetSol Technologies Limited has had an impressive start to its new financial year. Growing top line and booming bottom line are reported by the Company for the first quarter ending September.
JS Bank’s 3Q CY13 results are a typical example of the fruits reaped by playing safe-–banking more on investments, and shying away from lending. Not that JS Bank is the only one adopting this strategy-–it is only following in the footsteps of its larger peers. On sequential basis, the bank managed a flat top line growth, yet was able to muster a stupendous growth in pre-tax profits, which more than doubled during the quarter.
Colgate’s steady growth in the local market was recently brought in focus after the Prime Minister mentioned the consumer goods giant’s impressive profits during a meeting with members of the US Chamber of Commerce. The firms is also perhaps one of the better examples to throw around in a room full of potential investors since it happens to be amongst the few in the FMCG sector who still retain some glimpses of a former glory.
Habib Bank’s net profits for the nine months ending September 2013 slid 4 percent year on year. However, quarterly comparison shows that the bottom line did well, witnessing a jump of 14 percent quarter on quarter.
Ensuring gas supply to fertiliser firms saves Pakistan valuable foreign exchange on imports. And Fauji Fertilizer Bin Qasim’s (FFBL) 9M CY13 financial results indicate just that. The country’s only DAP producer recorded a sizeable jump in profits as improved gas supply (not fully restored yet) enabled it stay afloat.