05012016Sun
Last update: Sun, 01 May 2016 01am

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The country’s fifth largest bank announced its financial results for the nine months ending September. But, much like the previous quarter, the bank couldn’t overcome its weak spot that distorted its bottom line: dwindling non-mark-up income. Resultantly, the bank did nothing different from what it did last time.
The domestic cement sector seems to have found a penchant for going against market expectations. On Monday, Fauji Cement’s 1Q FY14 result announcement out performed market expectations of a stagnant bottom line. On Tuesday, DGKC’s downward spiral in profitability (compared to the corresponding period of last year) also came as a surprise for market analysts; this time for the worst.
When Engro Food’s dairy volume slipped by nearly 13 percent midway through CY13, the entire FMCG sector had to sit up and take notice. And with a predominantly bearish forecast for third quarter sales, not much of fireworks were being expected by the food producing newbie.
Attock Group’s upstream associate may have all the more reasons to cherish rupee depreciation, the downstream refinery operations are sobbing the menace it has created for the quarter’s profitability.
This was the second quarter when AKBL posted its result under the management of Fauji Group. And this time too, the management is on the ambitious drive to clean the balance sheet by aggressively sweeping up the toxic loan portfolio.
Attock Petroleum nearly shaved off its finance costs in the first quarter, after the (temporary) clearance of the industry wide circular debt stock. And this was, undoubtedly, one of the major reasons that enabled the firm to post flattish earnings growth, which would have otherwise slipped below the threshold.
The distance between National Refinerys top line and bottom line seems to be increasing. The firms sales revenues notched up by 20 percent year on year during 1Q FY14, its net earnings went south.