Major Companies Declare Results

DGKC earnings up 27pc to Rs3.4bn
KARACHI: Earnings of DG Khan Cement (DGKC) rose 27 percent to Rs3.4 billion (earnings/share Rs7.75) in the first half the current 2014/15 fiscal year.
In the same period last fiscal year, the earnings were recorded at Rs2.7 billion (EPS: Rs6.09).
DGKC raked in Rs12.6 billion revenue in July-Dec FY15 as against Rs12.4 billion July-Dec FY14, depicting two percent rise, mainly led by three percent increase in net retention prices.
In 1HFY15, financial charges witnessed a drop of 57 percent, resulting in profit before tax to increase by 17 percent to Rs4 billion compared to Rs3.4 billion in 1HFY14.
Analyst Nabeel Khursheed at Topline Securities said local dispatches grew 10 percent on the back of robust growth in private sector demand and start of mega construction projects around the country.

KEL profit climbs 181pc to Rs13.3bn
Karachi Electric (KEL) booked profit after tax of Rs13.3 billion (EPS: Re0.48) in the first half of the current fiscal year, up 181 percent year on year.
Earnings were recorded at Rs4.7 billion (EPS: Rs0.17) in the same period last fiscal year.
In 1HFY15, revenue for KEL edged up five percent year on year on the back of nine percent YoY higher sale of energy as tariff adjustment (subsidy) declined by four percent YoY.
Meanwhile, expenditure on account of consumption of fuel and oil rose one percent YoY, while purchase of electricity cost fell five percent YoY. Other operating expenses surged by 100 percent YoY in 1HFY15, with bulk of the expense recorded in 1QFY15.

HBL profit up 38pc to Rs31.82bn
Habib Bank Ltd (HBL) profit after tax grew 38 percent YoY to Rs31.82 billion (EPS: Rs21.63).
The bank announced a final cash dividend of Rs5.5/share (cumulative 2014 dividend of Rs12/share).
Analyst Amreen Soorani at JS Research said the result beat their EPS expectation of Rs19.65 on better than expected total income.
HBL’s net interest income (NII) rose 25 percent YoY to Rs69.09 billion in 2014 on the back of expected higher earnings assets.
Similarly, bank’s provisions and write-offs increased by seven percent YoY to Rs1.49 billion. In addition, 24 percent YoY growth in non core income supported the bottom line growth.

Bank Al Habib profit up 23pc to Rs6.35bn
Bank Al Habib (BAHL) registered 23 percent YoY growth in its profit after tax to Rs6.35 billion (EPS: Rs5.71)
The bank also announced a final cash dividend of Rs3.0/share for 2014.
The growth in earnings was driven by 34 percent YoY rise in NII.
Earnings for Oct-Dec 2014 were clocked in at Rs1.87 billion (EPS: 1.68), showing 25 percent YoY and 23 percent QoQ growth.
NII for the quarter posted 47 percent YoY growth, while 4Q2014 operating expenses increased by 20 percent YoY to Rs3.05 billion.