KARACHI: The KSE-100 companies posted highest-ever quarterly profits of Rs 243 billion, during the quarter ended March 31, 2021, up 82 percent on year-on-year and 11 percent on quarter-on-quarter basis.
Within this, government companies’ profits have increased by 15 percent on YoY and 33 percent on QoQ, while privately managed companies’ earnings have improved by 119 percent YoY and 5 percent QoQ, Topline Securities research report said.
Private companies outperformed government companies on YoY basis during the outgoing quarter as last year in March-2020, OMCs, refineries and cement companies posted losses, it added.
Government companies outperformed private companies on QoQ basis due to exceptional profits posted by BOP, OGDC, PSO, and NBP.
During the first quarter of 2021, on YoY basis, the largest contributors to KSE-100 profitability were OMCs followed by fertilizers, cements, banks and chemicals.
On QoQ basis, top contributors were Banks, OMCs, E&Ps, Cements, and Textiles.
"Our first quarter of 2021 analysis is based on data of 94 companies which represents 98 percent of the KSE-100 Index market capitalization", the report said. The historic 10 year quarterly analysis is based on 82 companies yearly analysis and on current composition of KSE100 companies that represents 90 percent of KSE100 market cap, it added
The companies which are not part of this analysis are either due to unavailability of historical data (due to recent listings) or nondisclosure of recent results.
This analysis suggests that adding these missing companies of KSE-100 will not materially impact profitability growth/trend.
Copyright Business Recorder, 2021
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