JKH's PBT decline for Q1 2020/21 dampens market

By Hiran H.Senewiratne

The CSE 's foremost conglomerate, John Keells Holdings' profit before tax (PBT) in the first quarter of the 2020/21 financial year which has proved negative, impacted investor sentiment negatively as well yesterday. JKH reported  a PBT of Rs.2.43 billion for the relevant quarter compared to the Rs.1.36 billion recorded in the previous financial year for the corresponding quarter, market analysts said.

These negative quarterly results impacted certain banking sector counters at the CSE as well, analysts said. Consequently, both CSE indices moved downwards. The All Share Price Index went down by 5.90 points and S and P WSL20 declined by 4.56 points. The day's turnover stood at Rs. 1.07 billion with two crossings.

Those crossings were reported from Commercial Bank, which crossed  two million shares to the tune of Rs. 231.2 million at a per share value of Rs. 72 and NTB 950,000 shares which crossed for Rs. 59.9 million at a per share value of Rs. 63.

In the retail market, companies that mainly contributed to the day's turnover were, JKH Rs. 171 million (1.5 million shares traded), LOLC Rs. 111.6 million (870,000 shares traded), Commercial Bank Rs. 85.6 million (1.18 million shares traded), HNB Rs. 39.4 million (355,000 shares traded) and Dialog Rs. 38.7 million (3.55 million shares traded). During the day 34.1 million share volumes changed hands in 10617 transactions.

During the day, a JKH share price depreciated by  Rs. 1.40 or 1.3 percent due to negative quarterly results. At the commencement of the day's trading the price was Rs. 111.40 and at the end of the day it moved down to Rs. 110. Further, LOLC Group's stocks witnesses some appreciation, market analysts said.

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