Gul Ahmed Textile Mill’s numbers for the nine months ended FY15 are alarming; an increase of four percent in sales year-on-year but a whopping 56 percent fall in net profit. This was due to higher cost of sales, which eroded gross margins, and higher other operating expenses, which contracted net margins.
Hub Power Company Limited (KSE: HUBC) announced its financial performance for 9MFY15 last week, showing a growth in the power company’s earnings. The firm depicted a 31 percent year-on-year growth in profits for 9MFY15, and most of the gains came from 1HFY15 as HUBC’s financial performance for 3QFY15 was depressed; earnings took a dip of 12 percent year-on-year in the latest quarter.
This is the third column in this week's series of articles covering the views of Finance Minister Ishaq Dar on the economy and major challenges confronting it. Today's edition focuses on circular debt within the energy sector.
National Bank of Pakistans deposits grew by Rs133 billion during CY14. The advances grew by a mere Rs 10billion and the investments by Rs165 billion. Little wonder that the ADR which used to be in the 60s is just holding to 50. And you would not blame NBP for being invested heavily in PIBs, as that is what CY14 was all about.
It pays to have eyeballs in the media business. And Hum TV has been gathering just that since the firm started out 11 years ago. The media giant continues to grow strength to strength each year, and the year to date has been no different. After posting 31 percent year-on-year growth in bottom line profits in the first half ending December 2014, the firm reported 31 percent growth yet again for the third quarter ending March 2015.
One in every three cars sold by domestic auto manufacturers is a Toyota Corolla. The newest model of the flagship variant of the Indus Motor Company (KSE: INDU) has become such a darling for car buyers that its sales in 9MFY15 shot up over 36,000 units. Thats a 57 percent year-on-year jump in number of Corollas sold.
With a single digit top line growth, Faysal Bank (FABL) commendably quadrupled its profits during 1QCY15. FABL is among the few banks still lending more than investing in government papers. A high ADR in the 60s is to show for that. Although, investments have picked up of late, FABL has not got all out parking the bulk in PIBs.