PIBT’s earnings fall 44% to Rs5.08m

KARACHI: The profit of Pakistan International Bulk Terminal Limited (PIBT) fell 44% to Rs5.08 million in the quarter ended September 30 on the back of lower ‘other income’, according to a bourse filing Wednesday.

The firm had earned a profit after tax of Rs9.13 million in the same quarter last year. This translated into earnings per share of Rs0.0004 as compared to Rs0.0007 in the corresponding period. Share price of the company reduced 0.56% or Rs0.17 and closed at Rs30.25 with a volume of 3.48 million shares.

According to the company’s brief profit and loss accounts, ‘other income’ of the firm fell 40% to Rs20.06 million from Rs33.33 million in the quarter in 2015. Administrative expenses reduced 40% to Rs12.70 million from Rs19.23 million in the same quarter last year. 

Published in The Express Tribune, October 27^th, 2016.

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