Pakistan Petroleum Ltd (PPL) has posted a consolidated NPAT of PKR14.3bn (EPS PKR5.26) for 1QFY21, up 32% qoq but flat yoy, beating our estimate of PKR4.60/sh. Major deviation from our estimate arose from higher revenues (most likely gas revenues, explained below).
Engro Corporation announced its 3QCY20 result, recording PAT of PKR 9.3Bn (EPS: PKR16.2) versus PKR6.1bn (EPS: PKR10.7) in the same quarter last year, up 58/51% QoQ/YoY, taking 9MCY20 PAT to PKR 18.5Bn, up 42% YoY.
The YoY increase in earnings can be mainly attributed to better performance of subsidiaries including EPCL (profit increased by 47% YoY) and EFERT (profit increased by 111% YoY).
D.G. Khan Cement Company Limited (DGKC) announced its result for 1QFY21 wherein the company reported a loss after tax of PKR 0.351Bn (LPS: PKR 0.80) compared to a loss of PKR 1.43Bn (LPS: PKR 3.26) in the previous quarter.
The decline in earnings can mainly be attributed to lower other income owing to the absence of dividend income from the subsidiaries.
Leveraging their existing expertise of tele-medicine solutions that comprises E-Health clinics in low income communities and a mobile application for the masses, Sehat Kahani has now introduced Tele-ICU Technology to their platform.
Together with United Nations Development Program (UNDP), United Nations Population Fund (UNFPA), Health Services Academy and Ministry of Health, Sehat Kahani has launched the first of its kind Tele-ICU project which will enable Critical Care specialists to provide virtual advice in Public and Private ICUs across Pakistan.
Carrefour, operated by Majid Al Futtaim in Pakistan, has underlined its commitment to creating unique and rewarding shopping experiences for its customers with the enhancement of its online delivery system. As part of its ongoing digital transformation, Carrefour has taken several steps towards offering its customers even more value, quality and choice by extending its range of quality products and increasing the number of its online delivery areas.
In response to concerns expressed over pathetic traffic condition in Karachi particularly at the old city area and all industrial town zones, DIG Traffic Karachi Javed Ali Mahar asked the Karachi Chamber to nominate a team comprising five to six representatives so that they along with higher authorities from the Traffic Police Department including the DIG Traffic himself could visit all these areas, review traffic flow situation, identify issues and accordingly take steps on priority to effectively deal with worsening traffic jams and provide relief to the masses.
Market traded range bound today between -135pts and +184pts, closing the session +109pts (unadjusted). The Index was swayed by mixed expectations on FATF (due to be announced today 7 PM PST) as well as the result announcements that saw E&P companies declining on the bourse, although international crude oil prices were stable.
K-Electric (KE) recently organised a Sarbulandi Camp in Gilanabad area of Malir, where residents could conveniently apply for New Connections, redress their complaints and avail payment solutions. In addition to this, more than 200 applications received for new connections whereas 150 meters were installed in the area on the same day.
Huawei today announced its business results for the first three quarters of 2020. During this period, Huawei generated CNY671.3 billion in revenue, an increase of 9.9% over the same period last year. The company’s net profit margin in this period was 8.0%.
Pakistan Telecommunication Company Limited (PTCL) has been awarded a turnkey ICT contract to deploy state-of-the-art IT infrastructure for Pak-Austria Fachhochschule Institute of Applied Sciences and Technology (PAF-IAST) University, a leading center of excellence in higher education and research in Haripur.
Zarrar Hasham Khan, Chief Business Services Officer, PTCL and Dr.
In a message for budding entrepreneurs and investors, Jazz CEO, Aamir Ibrahim has stated that Pakistan offers an abundance of opportunities that are linked to the national challenges. The Organization of Pakistani Entrepreneurs Silicon Valley (OPEN SV) featured Aamir Ibrahim as a guest speaker in its webinar titled ‘Realities of Investing in Pakistan’.
President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Friday said the onfluence of coronavirus on Belt and Road Initiative (BRI) and CPEC is temporary.
Presently the world has access liquidity while interest rates are low which can be used by Pakistan and other developing countries to benefit from it, he said.
Huawei Consumer Business Group (BG) today bolstered its product line-up with the advanced HUAWEI Mate 40 Series, the latest revolutionary flagship smartphones that empower users to leap further ahead. Showcasing the pinnacle of Huawei technology, the new Series reinforces Huawei’s dedication to innovation and its unrelenting determination to create the best Mate ever.
Easypaisa, Pakistan’s leading mobile payment service has come up with yet another convenience for customers who already have a Bank Account in Pakistan. Now, such customers can use the Easypaisa App and pull funds conveniently into their Easypaisa mobile accounts by saving their 3D Secure Debit Cards enabled for online transaction and issued by any Bank in Pakistan at absolutely no additional cost.
The Board of Directors of Faysal Bank Limited, in their 137th meeting held in Karachi on 22nd October 2020, approved the Bank’s unaudited condensed interim financial statements for the nine months ended September 30, 2020.
Despite disruption to business activities during the period due to COVID 19, the Bank’s profit after tax (PAT) of Rs.