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15 blue chip firms earn Rs176bn
By Our Equities Correspondent
KARACHI: Fifteen blue chip companies listed on the Karachi Stock Exchange earned combined profit after tax (PAT) amounting to Rs176.31 billion in the financial year 2013-14, according to the Economic Survey 2013-14.
It pertained to the figures reported for 10 months (July-April) 2013-14. The 15 companies held Rs176.31bn or 15.29pc share in the total listed capital of the bourse.
Interestingly, only two companies OGDCL and Pakistan Petroleum contributed Rs132.73bn or three-quarters of the aggregate earnings of 10 blue chip companies.
OGDCL is a giant even among the blue chip companies. It contributed Rs91.78bn representing a little over half of the entire earnings of the PAT of the 10 companies combined. The second biggest contribution in corporate profits of 15 blue chip companies was made by Pakistan Petroleum Limited amounting to Rs41.95bn.
It was followed by PAT of Rs21.50bn added by MCB Bank; Rs23.30bn by HBL; Rs18.61bn by UBL; Rs20.13bn by Fauji Fertiliser; Rs10.83bn by POL; Rs5.5bn by NBP and Rs9.71bn by Lucky Cement; Rs3.11bn by Engro Corporation; Rs12.56bn by PSO; Rs9.39bn by Hub Power Company; Rs5.20bn by Bank Al-Habib and Rs5.85bn by Nishat Mills.
The paid-up capital commanded by the 15 companies amounted to Rs176.31bn, which form 15.29pc of the paid-up capital of the bourse. Analysts say that although the number of listed companies on the KSE stands at 557, the 15 blue chip companies command the power to set the direction of trading on any particular day.
Sector wise performance shows that the 12 companies listed on the ‘oil and gas’ counter earned aggregate profit after tax at Rs166m in FY13, reflecting improvement from PAT at Rs163bn the year ago (YoY).
The ‘textile’ sector with the largest number of listed companies at 164 chipped in PAT at Rs39bn, which was a turnaround from loss of Rs6m suffered in FY12.
Yet the third-quarter earnings of textile companies was stated to have decreased due to sharp appreciation of the rupee against the dollar. The ‘construction and materials’ sector (comprising mainly cement companies) lists 35 entities, which contributed PAT at Rs39bn for FY13, up from Rs21bn YoY. ‘Fixed Line Communication’ with five listed units posted aggregate earnings at Rs10bn for 2013 against loss of Rs14bn in 2012, which was said to have “outperformed other sectors”.
The 23 listed ‘commercial banks’ earned PAT at Rs109bn in 2013, down from Rs115bn earned the preceding year. “The sector could not perform well due to less earnings due to limited advances and consumer financing because of high interest rates”, the survey stated.
‘Pharma and Bio Tech’ sector with nine listed pharmaceutical companies produced earnings at Rs5bn in 2013 which was about the same as the year before. The ‘electricity’ sector with 17 listed companies earned PAT at Rs29bn in the latest year, showing improvement over Rs21bn YoY. With 33 listed companies, the ‘chemicals’ sector posted aggregate profit at Rs45bn, up from Rs38bn YoY. The 16 listed units on the ‘Automobile and Parts’ sector produced PAT at Rs9bn, up from Rs7bn YoY.
And finally the ‘food producing’ 51 companies added Rs21bn to the 2013 total earnings of the listed corporate sector, showing improvement from Rs13bn earned by the sector the earlier year.
Published in Dawn, June 8th, 2014
By Our Equities Correspondent
KARACHI: Fifteen blue chip companies listed on the Karachi Stock Exchange earned combined profit after tax (PAT) amounting to Rs176.31 billion in the financial year 2013-14, according to the Economic Survey 2013-14.
It pertained to the figures reported for 10 months (July-April) 2013-14. The 15 companies held Rs176.31bn or 15.29pc share in the total listed capital of the bourse.
Interestingly, only two companies OGDCL and Pakistan Petroleum contributed Rs132.73bn or three-quarters of the aggregate earnings of 10 blue chip companies.
OGDCL is a giant even among the blue chip companies. It contributed Rs91.78bn representing a little over half of the entire earnings of the PAT of the 10 companies combined. The second biggest contribution in corporate profits of 15 blue chip companies was made by Pakistan Petroleum Limited amounting to Rs41.95bn.
It was followed by PAT of Rs21.50bn added by MCB Bank; Rs23.30bn by HBL; Rs18.61bn by UBL; Rs20.13bn by Fauji Fertiliser; Rs10.83bn by POL; Rs5.5bn by NBP and Rs9.71bn by Lucky Cement; Rs3.11bn by Engro Corporation; Rs12.56bn by PSO; Rs9.39bn by Hub Power Company; Rs5.20bn by Bank Al-Habib and Rs5.85bn by Nishat Mills.
The paid-up capital commanded by the 15 companies amounted to Rs176.31bn, which form 15.29pc of the paid-up capital of the bourse. Analysts say that although the number of listed companies on the KSE stands at 557, the 15 blue chip companies command the power to set the direction of trading on any particular day.
Sector wise performance shows that the 12 companies listed on the ‘oil and gas’ counter earned aggregate profit after tax at Rs166m in FY13, reflecting improvement from PAT at Rs163bn the year ago (YoY).
The ‘textile’ sector with the largest number of listed companies at 164 chipped in PAT at Rs39bn, which was a turnaround from loss of Rs6m suffered in FY12.
Yet the third-quarter earnings of textile companies was stated to have decreased due to sharp appreciation of the rupee against the dollar. The ‘construction and materials’ sector (comprising mainly cement companies) lists 35 entities, which contributed PAT at Rs39bn for FY13, up from Rs21bn YoY. ‘Fixed Line Communication’ with five listed units posted aggregate earnings at Rs10bn for 2013 against loss of Rs14bn in 2012, which was said to have “outperformed other sectors”.
The 23 listed ‘commercial banks’ earned PAT at Rs109bn in 2013, down from Rs115bn earned the preceding year. “The sector could not perform well due to less earnings due to limited advances and consumer financing because of high interest rates”, the survey stated.
‘Pharma and Bio Tech’ sector with nine listed pharmaceutical companies produced earnings at Rs5bn in 2013 which was about the same as the year before. The ‘electricity’ sector with 17 listed companies earned PAT at Rs29bn in the latest year, showing improvement over Rs21bn YoY. With 33 listed companies, the ‘chemicals’ sector posted aggregate profit at Rs45bn, up from Rs38bn YoY. The 16 listed units on the ‘Automobile and Parts’ sector produced PAT at Rs9bn, up from Rs7bn YoY.
And finally the ‘food producing’ 51 companies added Rs21bn to the 2013 total earnings of the listed corporate sector, showing improvement from Rs13bn earned by the sector the earlier year.
Published in Dawn, June 8th, 2014
