Baqar HussainAzee Securities (Pvt) Ltd.
HBL and ACPL are scheduled to announce their quarterly results on October 21, 2015.
HBL: Cumulative PAT to climb 25% YoY
The cumulative profit after taxation (PAT) of HBL is expected to reach Rs 25.66 billion (EPS: Rs 17.50) in 9MCY15 resulting in a 25% YoY growth when compared to a PAT of Rs 20.49 billion (EPS: Rs 13.97) in 9MCY14.
The decent growth in earning would be on back of higher net interest income and non-interest income however the bottom-line growth would be marginal affected by provisions.
The decent growth in earning would be on back of higher net interest income and non-interest income however the bottom-line growth would be marginal affected by provisions.
Bank’s net interest income likely to hike by 20% to Rs 57.84 billion against Rs 48.28 billion in 9MCY14 mainly due to rising earning assets and investments in long term papers. Noninterest income is expected to increase by 77% to Rs 23.84 billion versus Rs 13.46 billion in 9MCY14 likely due to higher gain on sale of securities and surge in fee, commission & brokerage income. The corporate results are likely to be accompanied with a third interim cash dividend of Rs 3.5/share in addition to the already paid cash dividend of Rs7/share talking total to Rs 10.5/share for 9MFY15.
ACPL: Profitability to surge 12% in 1QFY16
We expect earnings of Attock Cement to witness 12% YoY growth as profit after taxation to clock at 525 million (EPS: Rs 4.58) as against Rs 470 million (EPS: Rs 4.11) in 1QFY15. This is expected owing to record low coal prices and stable retention prices.
On the revenue side, ACPL’s top line is expected to decrease by 16% YoY to Rs 2.66 billion in 1QFY16 against Rs 3.17 billion on the back of lower cement sales. Whereas soft coal prices is expected to keep cost of sales under controlled as it is expected to decline by 26% YoY to Rs 1.65 billion. Consequently, gross profit to up by 7% to Rs 1,005 million versus Rs 942 million in 1QFY15.
Syed Zaki Hussain
