KARACHI: A large number of corporate results for the first nine months (July-March) of 2013-14 were unveiled on Thursday. Those included are:

Lucky Cement: The company announced 9MFY14 profit after tax (PAT) at Rs8.19 billion, translating into earnings per share (EPS) at Rs25.31, up 17.2pc over PAT at Rs7bn and EPS at Rs21.59 in the same period last year. The sales rose 13 per cent YoY to Rs 31.5bn while gross profit stood at Rs13.7bn against Rs12.2bn in 9MFY13. The company has decided to increase its shareholding in the associated company for wind farm project.

“To enhance the quality of cement and for capturing new export markets, Lucky Cement plans to replace its existing Chinese origin cement grinding mills located at the Karachi plant with renowned European vertical mills,” a company press release stated.

D.G. Khan Cement: It declared 9MFY14 PAT at Rs3.94bn (eps: Rs9), showing a drop of 7pc over Rs4.24bn (eps: Rs9.68) in the same period last year. Revenue rose by 8pc to Rs19.6bn, yet the increase of 17pc in cost of sales (resulting from rise in power tariff) dented the gross margins of the company by 5pc to 33pc.

Drop of 29pc in finance cost enabled company to post pre-tax profit at Rs5.2bn, up 2pc from Rs5.1bn YoY. However, increase in taxation by 46pc to Rs1.3bn during the period hurt bottom-line.

Kohat Cement: It announced 9MFY14 PAT at Rs2.4bn (eps: Rs15.64), up 26pc compared to Rs1.9bn (eps: Rs12.37) YoY. This profitability growth mainly emanated from strong cement prices coupled and lower electricity prices, leading to a gross profit margin of 41pc compared to 39pc a year ago. The results surprised the market, sending the company’s stock price up to its ‘upper circuit breaker’ in trading on Thursday.

Pakistan Petroleum: PPL announced 9MFY14 PAT at Rs38.1bn (eps: Rs19.32), up 14pc against Rs33.5bn (eps: Rs17) in corresponding period the previous year. During the period, PPL’s revenue rose by 15pc to Rs88.9bn from Rs77.2bn in 9MFY13 primarily due to higher oil production from Tal Block and Nashpa.

Analyst Vahaj Ahmed at Topline Securities commented: “Although awaiting final PPIS data, we believe company’s oil production during 9MFY14 rose by approximately 28pc while its gas production dropped 8pc over 9MFY13.”