Karachi October 25 2021: CYAN Limited hit lower circuit or drop 7.5 percent as it announces losses of PKR 378 million during the third quarter of this current year.
During the third quarter ended September 30, 2021 the company posted loss of PKR 378 million or Loss per share of PKR 6.15 compared to loss of earning of PKR 426 million or Earning per share of PKR 6.92 (restated) in the corresponding period in 2020.
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During the period, Cyan’s active equity portfolio underperformed the KSE-100 index by a staggering 11.1 percent (16.2 percent Vs 5.1 percent). The equity portfolio was maintained to have a balance between high growth and high yield investments.
Unity Foods Limited drop 29.8 percent and TRG drop by 2.8 percent during the quarter as per data published at Pakistan Stock Exchange.
This is because, investments were made in TRG for exposure in Technology and Communication and Unity for exposure in Food & Personal Care Products as per half year accounts of the company.
The company recorded investment loss of Rs.381 million compared to gain on investment of Rs.557 million in the similar period last year.