Lotte Chemical Pakistan (LOTCHEM) has posted a net profit of PKR1.6bn for 1QCY21 (EPS: PKR1.08), up a massive 28.0x yoy and 51% qoq. The qoq increase can be attributed to an increase in PTA-PX spreads and resultant gross margins to 15.4% from 13% in 4QCY20.… Continue

The Board of Directors of Shell Pakistan Limited (SPL) announced the first quarter financial results on April 22nd. The company posted a profit after tax of PKR 1,948 million compared to the loss of PKR 4,332 million made in the same period last year.… Continue

The total liquid foreign reserves held by the country stood at US$ 23,212.8 million on 16-April-2021. The break-up of the foreign reserves position is as under: –

• Foreign reserves held by the State Bank of Pakistan: US$ 16,043.9 million
  
• Net foreign reserves held by commercial banks    : US$ 7,168.9 million
  
• Total liquid foreign reserves                 : US$ 23,212.8 million
  

During the week ended 16-April-2021, SBP reserves decreased by US$ 63 million to US$ 16,043.9 million, due to external debt repayment.… Continue

The Karachi Port Trust handled 145,006 tons of cargo comprising 106,967 Tones of import cargo and 38,039 Tons of export cargo during last 24 Hrs ending at 0700 Hours.

TOTAL IMPORT CARGO:

The total import cargo of 106,967 comprised of 29,780 Tons of Containerized Cargo, 2,821 Tons of Ammonium Sulphate, 7,860 Tons of Rock Phosphate, 5,384 Tons of Soya Bean Seeds and 61,122 Tons of Oil/Liquid Cargo

TOTAL EXPORT CARGO:

The total export cargo of 38,039 tons comprised of 20,065 tons of containerized cargo, 17,974 Tons of Clinkers.… Continue

Emirates today commenced trials of the International Air Transport Association (IATA) Travel Pass– a mobile app to help passengers easily and securely manage their travel in line with any government requirements for COVID-19 testing or vaccine information.

The first passengers travelling from Dubai to Barcelona on EK 185 today trialled the ‘digital passport’ to verify and share their pre-travel COVID-19 test status with Emirates.… Continue

The global fintech company OctaFX recently financed the complete reconstruction of a crumbling, old road upon one faithful Pakistani resident’s explicit wish. A wish she was entitled to since she won the firm’s contest ‘Proud of my home’. The road reconstruction finished before this year’s Ramadan Holiday season started.… Continue

· Concern over growing cases of Corona and incidence in major cities thereof kept the investors perturbed the second day as well, where despite healthy earnings posted by companies announced today, the index eventually went down by 424pts. At the close, the index registered a decline of 377pts.… Continue

DP World Limited handled 18.9 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first quarter of 2021, with gross container volumes increasing by 10.2% year-on-year on a reported basis and up 9.6% on a like-for-like basis.… Continue

The State Bank of Pakistan (SBP) and the Securities and Exchange Commission of Pakistan (SECP) have amended the Terms of Reference (ToRs) of their Joint Task Force (JTF) on Financial Conglomerates to further strengthen the supervisory cooperation, inter alia, in AML/CFT/CPF supervision at financial-group level.… Continue

Nishat Power Limited (NPL) announced its 3QFY21 financial result today where the company posted a profit after tax (PAT) of PKR 658mn (EPS: PKR 1.86), down by 49% YoY compared to PKR 1,288mn (EPS: PKR 3.64) during the same period last year.… Continue

PKR 4.93, up 15% YoY. PAT during the quarter settled at PKR 299mn (PKR 1.41/share), compared to a PAT of PKR 439mn (EPS: PKR 2.07) SPLY, down 32% YoY.  Impressive jump in yearly earnings during CY20 is driven by a healthy jump in sales.… Continue

Lucky Cement Limited (LUCK) is scheduled to announce its 3QFY21 financial result on 27th Apr’21 whereby we forecast the profitability to clock-in at PKR 3,541mn (EPS: PKR 10.95) compared to PKR 999mn (EPS: PKR 3.09) in SPLY and PKR 2,315mn (EPS: PKR 7.16) in the last quarter.… Continue

D.G. Khan Cement Company Limited (DGKC) is scheduled to announce its 3QFY21 financial result on 24th Apr’21 whereby we expect the company to post earnings of PKR 2,506mn (EPS: PKR 5.72) compared to a loss of PKR 1,003mn (LPS: PKR 2.29) in SPLY and PKR 1,152mn (EPS: PKR 2.63) in 2QFY21.… Continue

Indus Motor Company Limited (INDU) is scheduled to announce its 3QFY21 financial result on April 28th, ’21. We expect the profitability to increase by 69% YoY to PKR 8,414mn (EPS: PKR 107.04) in 9MFY21 against PKR 4,984mn (EPS: PKR 63.41). Topline is expected to witness an increase of 73% YoY to PKR 131bn attributable to volumetric growth of 69% YoY to 42,670 units vs.… Continue

Pak Suzuki Motors Company Ltd. (PSMC) is scheduled to release its 1Q result on 22nd Apr ’21. We expect the company to post profit after tax (PAT) of PKR 1,455mn (EPS: PKR 17.68), compared to a loss of PKR 941mn (LPS: PKR 11.44) in 1QCY20 and a profit of PKR 1,009mn (EPS: PKR 12.26) in 4QCY20.… Continue