Corporate result: PAEL announces Rs2.88b profit

KARACHI:

Pak Elektron (PAEL) on Thursday announced consolidated earnings of Rs2.88 billion in the year ended on December 31, 2015, up 28.5% from Rs2.24 billion in the same period of the previous year, according to company notice to Pakistan Stock Exchange (PSX) .

Earnings per share (EPS) jumped to Rs7.13 in year 2015 compared to Rs6.61 in the previous year.

The result was below street consensus, a Topline Securities report said.

KSE-100 Index on Thursday closed at 33,139, up 216 points or 0.66%. However, PAEL’s share price was Rs60.60, down 1.19% from Rs61.33, at close of trading.

During 2015, PAEL’s revenue increased by 22% year on year to Rs29.3 billion while gross margins declined by 116 basis points to 29.6%. Earnings of the company stood at Rs2.9 billion (Diluted EPS Rs5.8), up 28% year on year primarily led by growth in top-line.

Published in The Express Tribune, April 1^st,  2016.

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