The Hub Power Company Limited (HUBCO) has posted Rs 2.965 billion net profit in the first nine months of current fiscal compared to Rs 1.991 billion in the same period last fiscal, reflecting around 49 percent growth. The company’s earnings per share (EPS) rose to Rs 2.56 during period under review over Rs 1.72 in the corresponding period last year. Analysts attributed the increase in the profit to higher electricity generation in the calendar year 2008 resulting in a generation bonus. Besides production bonus, interest income on overdue amount from WAPDA is likely to boost bottom-line of the company. Turnover totaled at Rs 67.335 billion in July-March 2008-09 against Rs 42.751 billion in the same period last fiscal. Operating costs also jumped to Rs 62.533 billion in the said period over Rs 39.219 billion in the previous year. HUBCO operates an oil-fired power station with a net capacity of 1,200 MW located in Hub River estuary in Balochistan and also carries out the business of power...

Bulls staged a comeback at the Karachi stock market Tuesday on back of announcement of 10 million pounds counter terrorism package by UK and statements on nuclear safety by President Asif Zardari. The Karachi Stock Exchange (KSE) 100-share index gained 85.14 points or 1.16 percent to close at 7,430.08 points as compared to 7,344.94 points of the previous session. The KSE 30-share index increased by 51.07 points and closed at 7,987.72 points as compared with 7,936.02 points. The KMI 30 index also surged 129.29 points to close at 10,519.54 points as against 10,390.25 points. Analysts said that the market, despite opening on a negative note, closed positively in the wake of better than expected results during the current week. The market turnover went up by 32.29 percent and traded 181.90 million shares as compared to previous session’s 137.50 million shares. The overall market capitalisation increased by 1.04 percent to close at Rs 2.213 trillion as against Rs 2.191 trillion traded in th...

Lucky Cement registered 52 percent growth in its net profit during the first nine months of current financial year on the back of high sales and export. Company’ s net profit increased to Rs 3.072 billion during the period under review against Rs 2.014 billion in the same period of previous year, financial results of the company sent to Karachi Stock Exchange (KSE) indicated on Monday. Earnings per share (eps) rose to Rs 9.50 in July-March of 2008-09 from Rs 7.65 per share in the corresponding period of last year. Profit before tax also jumped to Rs 3.488 billion compared to Rs 1.629 billion in the previous year. During the nine months under review, company achieved a significant growth of Rs 61 percent in net sales revenue as compared to same period of previous year. The ratio of sales revenue from exports was 58.8 percent whereas the local sales accounted fro 41.2 percent in this period. The overall sales volume of the company stood at 4.154 million tons during the period under revie...

Karachi Stock Exchange (KSE) this morning struck by initial shock continued witnessing a series of aftershocks, which knocked down at the end of the day overall a substantial over 275 points. Analysts said that the Taliban factor, like other sectors of the economy, eating away the vitality of the market and the investors fearing further deterioration in law and order situation shunned taking any new position instead preferred for unloading their stocks and minimizing the losses.

KARACHI: The Karachi stock market fell on Wednesday in choppy trade as lower than expected result announcement by PSO propelled investors to offload their holdings. The Karachi Stock Exchange (KSE) 100-share index shed a massive 259.97 points or 3.32 percent to close at 7,574.17 points as compared to 7,834.14 points in the previous session. The KSE 30-share index fell 333.90 points and closed at 8,266.41 points as compared with 8,600.31 points. The KMI 30 index also slumped 358.09 points to close at 10,666.49 points as against 11,024.58 points. Analysts said another factor that led to the bearish trading session was serving of a legal notice to a major blue chip bank that led to selling in bank stocks. The market turnover declined by 29.17 percent and traded 226.88 million shares as compared to previous session’s 320.33 million shares. The overall market capitalisation fell by 3.16 percent to close at Rs 2.264 trillion as compared with Rs 2.338 trillion traded in the previous session. ...

KARACHI: The Karachi Stock Exchange (KSE) has expelled M/s AAG Securities Pvt Ltd from the exchange with immediate effect as per Regulation 42 of the general regulations of the exchange for failing to abide by and carry out various arbitration awards passed against them in connection with investors’ claims. According to KSE here on Wednesday, the board of directors of the exchange has passed an expulsion resolution against M/s AAG Securities on April 20, 2009. After the expulsion, AAG Securities has ceased to be KSE member and its membership card and the right of membership stands forfeited and now vested with KSE as per Regulation 11 of the general regulations of the exchange. KSE has warned all its members not to carry on business with AAG Securities without permission of the board as provided under Regulation 9 (c) of the general regulations.

KARACHI: Oil and Gas Development Authority (OGDC) has posted a net profit of Rs 44.408 billion in nine months of 2008-09 and announced 20 percent final cash dividend for the shareholders. According to financial results of the company despatched to Karachi Stock Exchange here Thursday, the pre-tax profit soared to Rs 66.272 billion for the period ending March 2009. The earning per share (EPS) of the company also jumped to Rs 10.33 during the period under review, compared to Rs 8.44 in the same period last year. OGDC’s net sales have crossed Rs 100 billion mark during the nine months.