Friday, November 1, 2024

95 Pakistani Companies Report Rs.403 Billion Profit in 3 Months

The top 95 companies listed on the Pakistan Stock Exchange (PSX) recorded a combined net profit of Rs403 billion in the first quarter of the fiscal year 2024-25, covering the months from July to September. This information comes from data shared by Topline Research. While this figure is a 14% drop compared to the Rs468 billion in net profit seen in the same period last year, it does reflect a positive 16% increase from the previous quarter, which ended on June 30, 2024. When measured in dollar terms, the earnings for this quarter came to around $1.4 billion.

The performance across various sectors on the stock exchange has been mixed. The banking sector showed stability, maintaining a net profit of Rs156 billion. However, some sectors, such as oil and gas exploration, food, and refineries, experienced significant declines in profits. Challenges in global demand and fluctuating energy prices are thought to be contributing factors.

On the other hand, the fertilizer and cement sectors reported strong gains in profit. This growth is largely attributed to increased prices for their products and improvements in operational efficiency, which helped boost their earnings despite economic pressures.

Overall, the results highlight the different trends within Pakistan’s key industries, with some sectors facing difficulties while others managed to thrive through strategic adjustments.

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