KARACHI (Reuters) - Pakistani stocks ended lower on Friday with early gains wiped out after Engro Corp reported lower-than-expected results for the first half of 2011, dealers said Engro Corp reported a net profit of 3.32 billion rupees ($38.45 million) in the first half of 2011, compared with 3.2 billion rupees in the same period last year. The earning per share was 8.64 rupees. The result is well below our expectation of Rs 10.8 per share mainly on account of lower earnings of its fertilizer business, said Bilal Qamar, an analyst at JS Global Capital Ltd. Engro closed 2.86 per cent lower at 131.89 rupees. Engro Corps lower-than-expected result forced its share price lower by four rupees, said Samar Iqbal, a dealer at Topline Securities Ltd. The Karachi Stock Exchanges benchmark 100-share index closed 0.03 per cent, or 14 points, lower at 10,894.04 points on turnover of 53.87 million shares. The KSE-index hit an intra-day high of 11,410.74 points. In money market, import payments and gloomy sentiment about Pakistans economic outlook forced the rupee to a fresh record low on Monday for the fourth consecutive trading session, dealers said. The rupee closed at 87.00/07 to the dollar, down from the previous record low of 86.95/99 on Saturday. Dealers said they expect the currency to remain under pressure, as dollar payments are typically higher in July and August because of stronger oil demand and debt payments. The rupee was traded as high as 87.10 against the dollar, said a dealer at a local bank. There were some payments of about $40 to $60 million. Stalled payments from a bailout programme by the International Monetary Fund (IMF) is also negatively impacting the rupee. The IMF has criticized the Pakistan government for its patchy implementation of fiscal reforms, and has held back the sixth tranche of an $11 billion bailout programme since August last year.