After a 9M period of double-digit inflation, CPI is expected to enter single digits and register at 8.7% during Apr’20 against 10.24% recorded during Mar’20 and is expected to average at 11.3% during 10M FY20. On a monthly basis, inflation is estimated to recede by 0.67% primarily due to subdued food inflation and the transport… Continue reading Inflation estimated to register at 8.7% during Apr’20
Author: Anum Qudsia Siddiqui
MUGHAL 3QFY20 Result – EPS at PkR 0.13/sh-undershoots market consensus
-Mughal Iron & Steel Ltd (MUGHAL) announced its 3QFY20 results earlier today, posting Net Profit after Tax (NPAT) of PkR33mn (EPS of PkR0.13/sh), down 91%Y/Y and 67%Q/Q. The result was below market consensus of PkR0.79/sh. We expect the stock to remain under pressure on the back of subdued earnings driven by higher finance cost. For… Continue reading MUGHAL 3QFY20 Result – EPS at PkR 0.13/sh-undershoots market consensus
Daily News: 30th April 2020
Good Morning The total servicing of external public debt was $5.344 billion during July-February 2019-20 against the budgeted $10.423 billion for the entire fiscal year, says the Economic Affairs Division (EAD). According to the latest figures released by the EAD, total servicing of external public debt was $5.344 billion during the first eight months of… Continue reading Daily News: 30th April 2020
KASB Ray of hope: lockdown debate
• European economic data is ugly. The UK economy will decline by -35% in 2Q20. Across Europe the data on economic sentiment published today shows record lows. It is a not a surprise then that many European countries including France, Germany and Italy are now slowly easing the restrictions. In the UK, there is also… Continue reading KASB Ray of hope: lockdown debate
Allied Bank Limited (ABL) 1Q2020 conference call takeaways
Allied Bank Limited (ABL) held a conference call for Analysts and Investors today. The management reviewed 1Q2020 results and gave guidance regarding the future outlook of the bank. Key highlights of the conference call were: -The management believes the results during 1Q2020 were more reflective of dynamics during 2H2019. Going forward, the bank expects its… Continue reading Allied Bank Limited (ABL) 1Q2020 conference call takeaways
Pakistan State Oil (PSO): inventory losses turns profitability negative
▪ Pakistan State Oil (PSO) reported its 3QFY20 earnings earlier today, where the company announced a loss of PKR 3,426Mn for the quarter (LPS: PKR 7.30/sh), lower than our estimated loss of PKR 0.73/sh. In comparison, the company reported earnings of PKR 6.19/sh in the earlier quarter and PKR 3.57/sh in the same period last… Continue reading Pakistan State Oil (PSO): inventory losses turns profitability negative
Why Pakistan cannot afford declining remittances?
Fact check: Pakistan’s remittance inflows in 9MFY20 were enough to easily cover its Balance of Trade deficit. This definitely suggest why Pakistan cannot endure decline in remittances. Inbound remittances have always provided cushion not only to our foreign exchange reserves but also to our current account deficit. Fact of the matter is that as a… Continue reading Why Pakistan cannot afford declining remittances?
Daily News:29th April 2020
Good Morning Pakistan is facing the worst economic conditions in its history — a negative economic growth at 1.57 per cent and a fiscal deficit of 9.6pc — during the current fiscal year owing to economic losses in the aftermath of coronavirus pandemic. Estimating a shortfall of about 16 per cent against the target for… Continue reading Daily News:29th April 2020
Pakistan State Oil (PSO): 3QFY20 to see exchange and inventory losses
▪ Pakistan State Oil (PSO) is scheduled to report its 3QFY20 earnings on Wednesday, April 29, 2020. We expect the company to report Loss after Tax of PKR 344 MN (LPS: PKR 0.73/sh) for the quarter, taking our 9MFY20 earnings expectation to PKR 6,091 MN (EPS: PKR 12.97/sh). ▪ In comparison, the company reported earnings… Continue reading Pakistan State Oil (PSO): 3QFY20 to see exchange and inventory losses
MARI 3Q earnings come in at PKR 63.54/sh, beat expectations
▪ Mari Petroleum Limited (MARI) reported its 3QFY20 earnings earlier today, where Profit after Tax (PAT) came in at PKR 8,477 MN (EPS: PKR 63.54/sh), higher than our expectation of PKR 57.13/sh. The company’s bottomline grew by 16% Q/Q, 47% Y/Y. ▪ For the 9MFY20 period, the company reported earnings of PKR 23,225 MN or… Continue reading MARI 3Q earnings come in at PKR 63.54/sh, beat expectations
