Profit of companies at PSX jumps 82%
Earnings of 94 firms clock-in at record high of Rs243 billion in Jan-Mar quarter
PHOTO: AFP
KARACHI:
The net profit earned by the top 94 Pakistani companies - mostly belonging to industrial and services sectors - surged 82% to a record high of Rs243 billion in the quarter ended March 31, suggesting that economic activities were in full swing during the start of the third wave of Covid-19 pandemic.
These companies are listed at the Pakistan Stock Exchange (PSX) and are part of the benchmark KSE-100 index, which is a group of top 100 performing companies. These companies had earned a net profit of Rs133.65 billion in the same quarter last year when the first wave shot down economic activities in the country, Topline Securities reported on Monday. “The largest contributors to KSE-100 profitability were oil marketing companies (OMCs) followed by fertiliser, cement, banks and chemical sector companies,” Topline Deputy Head of Research Shankar