Yusra Beg

Intermarket Securities

Senior Investment Analyst @ Intermarket Securities

With over four years of brokerage industry experience, Yusra covers the banking sector, pharmaceuticals and consumer staples sectors in Pakistan. Prior to joining IMS in 2015, Yusra covered Pakistan utilities at IGI Securities Ltd (a Packages Group company). Yusra is affiliated with the Association of Chartered Certified Accountants (ACCA).

Yusra Beg
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Latest articles from Yusra Beg

United Bank: 3QCY21 review – Strong core performance

UBL has posted consolidated 3QCY21 NPAT of PKR6.8bn (EPS: PKR5.52), up 43%yoy but lower by 9%qoq. The result is lower than our projected earnings of PKR6.15/sh, due to a one-off loss of PKR1.1bn on discontinued operations (UBL Switzerland), excluding...
Intermarket Securities Yusra
Yusra Beg @ Intermarket Securities 20 October 2021

Friesland Campina Engro Pakistan: 3QCY21 review – earnings dip seasonally; sales continue to impress

FCEPL has reported 3QCY21 NPAT of PKR544mn (EPS: PKR0.71), a massive jump from PKR29mn (EPS: PKR0.04) SPLY. The result is however lower by 37%qoq primarily due to seasonality. This is led by strong volumetric growth in all categories - particularly O...
Intermarket Securities Yusra
Yusra Beg @ Intermarket Securities 20 October 2021

Habib Bank: 3QCY21 Review: Remains on track

HBL has reported 3QCY21 NPAT of PKR9.05bn (EPS: PKR6.17), down 10%yoy and 3%qoq. This takes 9MCY21 payout to PKR5.25/sh. Net interest income came largely in line with our projections at PKR32.3bn (flat qoq, and lower by 10%yoy). Interest earned rose ...
Intermarket Securities Yusra
Yusra Beg @ Intermarket Securities 15 October 2021

Meezan Bank: 3QCY21 review – NII pick-up remains strong; in-line with estimates

MEBL posted 3QCY21 consolidated NPAT of PKR7.0bn (EPS: PKR4.31), up 4%yoy, and 5%qoq. Key takeaways from the result are (i) strong 7%qoq pick up in NII, albeit flat yoy (ii) higher fee income of PKR2.9bn, up 54%yoy (vs. an expected fee of PKR2.4bn), ...
Intermarket Securities Yusra
Yusra Beg @ Intermarket Securities 14 October 2021

Pakistan Banks – 3QCY21f Result Previews

IMS Banks Universe is expected to report sequentially flat results (-2%yoy) for 3QCY21. IMS Universe CY22f P/B of 0.8x (ex-MEBL: 0.7x) and P/E of 5.3x are attractive. Our top picks are UBL, BAFL and BAHL. We expect the IMS Banks Universe to report cu...
Intermarket Securities Yusra
Yusra Beg @ Intermarket Securities 12 October 2021

Pakistan Economy: CPI depicts a sharp month-on-month rise in September

National CPI rose to 9.0% yoy in September 2021, vs. 8.4% in August. However, a sharp mom jump has been observed (up 2.12%mom) primarily on account of a sharp rise in perishable food prices, particularly in the Urban centres. However, Perishable food...
Intermarket Securities Saad
Saad Ali @ Intermarket Securities 3 October 2021

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