Engro Corporation profits down 26.6 percent

Engro Corporation Limited has announced a net profit of Rs1.462 billion for the quarter ended September 30, 2015, which is 26.6 percent lower than Rs1.999 billion earned a year ago.
The sales revenues for the quarter stood at Rs37.163 billion as against Rs44.856 billion last year.
For the nine months ended September 30, 2015, Engro posted a net profit of Rs11.022 billion translating into earning per share (EPS) of Rs16.95 compared with the profit of Rs5.163 billion and EPS of Rs8.63 in the same period last year.
The company also announced interim cash dividend of Rs5.0 per share which is in addition to Rs6.0 already paid to the shareholders.
Pak Suzuki posts profits
Pak Suzuki Motor Company (PSMC) announced net profit of Rs1.819 billion translating into EPS of Rs22.11 for the quarter ended September 30, 2015 as against profit of Rs575.538 million and EPS Rs7.0 in the same quarter last year.
PSMC revenues grew by 78 percent to Rs21.188 billion in the quarter as company sold 33,770 units during the period.
“We attribute this increase in volumes to the taxi scheme launched by Punjab in provincial budget of FY15,” Tahir Saeed at Topline Securities said.
Gross profit surged substantially by 207 percent to Rs3.367 billion. “We mark this improvement to fall in international steel prices and favorable exchange rate movement as US dollar and Pak Rupee appreciate against Japanese Yen”. Other income grew 119 percent to Rs313.067 million as the company earned interest on advances received from customers owing to strong car demand.
However, distribution expenses surged to Rs486.77 million led by increased number of units sold. For nine months ended September 30, 2015, PSMC earnings stood at Rs4.23 billion translating into (EPS) of Rs51.5 versus income of Rs1.61 billion and EPS 19.6 in the same period last year.