Aisha Steel Mills Ltd (ASL) posts a NPAT of PKR1.8bn for 2QFY21

Aisha Steel Mills Ltd (ASL) has posted a NPAT of PKR1.8bn (EPS: PKR1.92) for 2QFY21, compared to a NLAT of PKR81mn (LPS: PKR0.16) same period last year.

Key Highlights of 2QFY21

ASL posted revenues of PKR14.2bn in 2QFY21 vs. PKR11.3bn SPLY, led by (i) local flat steel demand rising to pre-pandemic levels (ii) increase in ASL’s market share to 36% due to decrease in imports, and (iii) higher realized prices due to increase in global CRC prices.… Continue

Wallet at your fingertips: HUAWEI Pay launched in Pakistan

Huawei Technologies introduced its secure online transaction service – HUAWEI Pay in Pakistan in 2020. It is a safe, secure, easy, and efficient way to make payment via your Huawei devices, supporting card payments. As a mobile payment service by Huawei in partnership with Union Pay and National Bank of Pakistan, the service leverages bank payments, QR payment options and its phones capabilities of Near Field Communication (NFC) to provide a contactless payment option.… Continue

2QFY21 Result review of Gul Ahmed Textile Mills Ltd

Big jump in other income leads to earnings beat

Gul Ahmed Textile Mills (GATM) reported consolidated 2QFY21 NPAT of PKR1.2bn (EPS: PKR2.78), compared to a NPAT of PKR640mn (EPS: PKR1.49) SPLY and a NPAT of PKR697mn (EPS: PKR1.63) last quarter. This took 1HFY21 NPAT to PKR1.9bn (EPS: PKR4.41), up 91% in SPLY.… Continue

Maple Leaf Cement Factory Limited plans expansion in Punjab

Maple Leaf Cement Factory Limited (MLCF) plans to undertake a brownfield expansion at its Dadukhel, Mianwali plant by installing a line 4 of 2.4mn tons as well as a Waste Heat Recovery (WHR) plant at a cost of PKR 18.5bn.

The company in a communication to PSX says that it will use a mix of debt and equity, without making a Rights issue and expects the plant to reach completion within 18 months (1.5 years) from date of opening a letter of credit.… Continue

Al-Karam Textile Mills partner with Dr. Essa Laboratory & Diagnostic

Al-Karam Textile Mills, in collaboration with Fair Trade USA, have partnered with Dr. Essa Laboratory & Diagnostic to provide free-of-cost and best quality pathological services to the employees of Al-Karam Textile Mills. At the inauguration of this project, a unit of the lab providing basic services was instated within the premises of their mill in Karachi, along with the presence of professional medical staff.… Continue

UBL recorded a PAT of PKR 20.8Bn for the year CY20

United Bank Limited (UBL) announced a PAT of PKR 5.4Bn (EPS: PKR 4.3), up 15.3/16.1% on YoY/QoQ basis. For the full year CY20, the bank recorded a PAT of PKR 20.8Bn (EPS: PKR 17.1), up 9.1% YoY. Reason behind the improved earnings was lower than expected provisioning charge of PKR 1.8Bn booked in 4QCY20.… Continue

Daily cargo handling report of Karachi Port Trust

The Karachi Port Trust handled 162,675 tons of cargo comprising 113,610 Tones of import cargo and 49,065 Tons of export cargo during last 24 Hrs ending at 0700 Hours.

TOTAL IMPORT CARGO:

The total import cargo of 113,610 comprised of 31,036 Tons of Containerized Cargo,5,836 Bulk Cargo, 602 Tons of Canola, 10,603 Tons of Rock Phosphate, 5,760 Tons of Soya Bean Seeds, 20,946 Tons of Wheat and 38,827 Tons of Oil/Liquid Cargo

TOTAL EXPORT CARGO:

The total export cargo of 49,065 tons comprised of 20,515 tons of containerized cargo 28,550 Tons of Clinkers.… Continue

Registrar Ilma appointed education policython mentor at Harvard University

A prestigious appointment indeed as ILMA University’s Registrar & Director of International Linkages & Opportunities Syed Kashif Rafi became the Mentor at The Education Policython in collaboration with Policy for the People, Harvard University, USA co-hosted with Partners of Patents. Great honor to be bestowed upon this eminent title at the top IVY League of the world which is a testimony of the high standards upheld by the ILMA University internationally.… Continue

DOL holds its corporate briefing session today

Descon Oxychem Limited (DOL) held its corporate briefing session today to shed light on 1HFY21 financial result and business outlook. To recall, the company reported earnings of PKR 105Mn (EPS: PKR 0.6) in 1HFY21, down 26% YoY. On the other hand, it recorded profitability of PKR 91Mn (EPS: PKR 0.5) in 2QFY21, up 1.0/6.5x YoY/QoQ.… Continue

TPL Trakker to power Mahir ‘s handyman marketplace

TPL Trakker, Pakistan’s leading IoT Company providing Tracking, Telematics, Mapping and Location Based Services and Solutions, has partnered with Mr. Mahir, an online marketplace allowing skilled and experienced local professionals, to connect with customers looking for maintenance and handyman services.

Following the partnership, TPL Trakker’s Location Based Service (LBS) APIs will power Mr.… Continue