Mari Petroleum Company Limited (MARI) announced its financial result today, posting profit after tax of PKR 9,099mn (EPS: PKR 68.21) during 1QFY22 compared to PKR 9,066mn (EPS: PKR 67.96) in 1QFY21.

Result Highlights

 ·        Net Sales in 1QFY22 witnessed an uptick of 2% YoY, settling at PKR 20,726mn in contrast to PKR 20,363mn in SPLY amid increase in oil and gas production of 62% and 1% YoY, respectively.… Continue

Staying true to its commitment towards social and environmental responsibilities, Hutchison Ports Pakistan (HPP) has partnered with World Wildlife Fund – Pakistan (WWF-P) for ‘Rung Do Pakistan’ initiative. HPP will be planting nearly 500,000 saplings of mangrove trees along Karachi’s coastal belt over the next five years.… Continue

As more industries across the Middle East embrace digital transformation, a focus on collaborative development will be pivotal to extending the gains achieved to date, according to Huawei’s top executive in the region. Steven Yi, the recently appointed President of Huawei Middle East, spoke with journalists from around the region on the sidelines of the GITEX Global 2021 summit held recently in Dubai, UAE.… Continue

Pakistan’s largest digital bank, Mobilink Microfinance Bank (MMBL) and Care International in Pakistan, a leading global humanitarian organization, entered into a strategic collaboration earlier in the year through an MOU, which materialized into special training sessions for MMBL’s female borrowers to upskill them in business and financial management.… Continue

High Commissioner for Pakistan, Mr. Imran Ahmed Siddiqui, called on Hon. Prime Minister of Bangladesh, Sheikh Hasina, on Oct 25. This was his second meeting with Hon. Prime Minister Hasina since his arrival last year.

The High Commissioner conveyed Prime Minister Imran Khan’s message of goodwill and friendship to Hon.… Continue

The 70th Annual General Meeting of Pakistan Petroleum Limited (PPL) was held online on October 25. Members approved financial statements for the fiscal year ended June 30, 2021, together with the auditor’s report. PPL registered a profit-after-tax of Rs. 52.4 billion, the second highest for the Company and a final cash dividend of 20 percent on ordinary and 15 percent on convertible preference shares was also approved.… Continue

Fatima Fertilizer Company Ltd (FATIMA) has posted 3QCY21 NPAT of PKR4.77bn (EPS: PKR2.27), up 99% yoy, taking 9MCY21 net profit to PKR14.0bn, up 47% yoy. The result is broadly in line with our expected NPAT of PKR5.05bn (EPS: PKR2.40).

Key result highlights for 3QCY21:

Net revenues have increased by 36% yoy and 15% qoq to PKR29.5bn, mainly due to significantly higher Urea/CAN/NP offtake, which increased by 52%/24%/36% yoy, coupled with price hikes.… Continue

Pakistan captain and Brand Ambassador Noon Babar Azam have won the nation’s hearts with the historic win against India in the ongoing T20 Cricket World Cup. The winning captain dedicated his win to the youth of Pakistan and has announced the ‘Muhammad Azam & Saya Scholarship’ in partnership with Noon.… Continue

Boston-based Sea Machines Robotics, a leading developer of autonomous command and control systems for commercial vessels, announced today that it had hired Trevor Vieweg as chief technology officer (CTO), reporting to its CEO Michael G. Johnson. Effective earlier this month, this new position gives Vieweg responsibility for the company’s overarching technology strategy and continues to develop a high-performing team focused on developing advanced marine technology.… Continue

ICI Pakistan Limited is expanding business. 1) expansion in the company’s Soda Ash manufacturing facility to 560k tons per annum from the current capacity of 425k tons per annum, ii) improved margins of PSF business due to specialty fiber, iii) successful commissioning of NutriCo Morinaga (Private) Limited, iv) transformation of Pharma Business which is growing faster than the market, (v) expected growth in textile chemicals, polyurethane, and Agri sciences and, (vi) diversified products’ portfolio and businesses.… Continue

Amreli Steels Limited (ASTL) announced its 1QFY22 financial result today where the company posted a profit after tax (PAT) of PKR 702mn (EPS: PKR 2.36), compared to PKR 111mn (EPS: PKR 0.37) in SPLY and PKR 443mn (EPS: PKR 1.49) in 4QFY21.… Continue

· Pre-budget, a consensus target of above 50k was set for KSE-100. Shaheen Shah Afridi struck early blows to help the team as news of upcoming incentives for various sectors produced a rally in specific sectors.

· Then came on the slow fight back from the opposition as the field was spread out, the delay in incentives provided to various sectors including Refinery and Automobiles leading to continuous slippage in the KSE-100.… Continue

DP World Limited handled 58.4 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in 9M2021, with gross container volumes increasing by 11.9% year-on-year on a reported basis and up 11.4% on a like-for-like basis. On a 3Q2021 basis, DP World handled 19.8 million TEU, up 8.1% year-on-year and up 7.9% on a like-for-like basis.… Continue

Indus Motor Company Limited (INDU) announced their financial results today, posting earnings of PKR 5,425mn (EPS: PKR 69.02), up by 194% YoY and 23% QoQ from PKR 1,845mn (EPS: PKR 23.48) and PKR 4,413mn (EPS: PKR 56.15). Along with the result, INDU also declared an interim cash dividend of PKR 34.50/share vs PKR 12.00/share in 1QFY21.… Continue

Ericsson (NASDAQ:ERIC) has signed a Memorandum of Understanding (MoU) with du, from Emirates Integrated Telecommunications Company (EITC), and Pure Harvest Smart Farms to deploy innovative 5G smart farming solutions across agricultural sites in Al Ain, United Arab Emirates (UAE). The 5G solutions deployed will leverage operations across existing devices used in Pure Harvest farms, such as sensors, drones, and robotics, and increase the efficiency of their processes.… Continue

Easypaisa, Pakistan’s leading digital payments platform, has introduced a convenient service for individuals and sole proprietor merchants who have a need to collect digital payments from their customers. Using the existing Easypaisa App, customers can now signup as an Easypaisa merchant instantly and start collecting instant payments from other Easypaisa customers using QR codes.… Continue

Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Monday termed the demand of the IMF to close bank accounts of government departments in commercial banks reasonable.… Continue

A ceremony to commemorate the first anniversary of Orange Line Metro Rail Train System (OLMRTS) operations was held on October 25, 2021, at the project’s Head Office. The event also marked the achievement of surpassing the milestone of 20 million passengers who preferred boarding the Orange Line trains in the year to enjoy reduced travelling time from Dera Gujran to Ali Town by 105 minutes.… Continue

Engro Fertilizers, Pakistan’s premier seed-to-harvest solutions provider, has been recognized as the “Largest Taxpayer in the Fertilizer Sector”, in a ceremony held at the Aiwan-e-Sadr.

Nadir Qureshi, CEO of Engro Fertilizers, received the award from the Honorable President Dr. Arif Alvi, who was the chief guest on this occasion.… Continue

Pak-Qatar General Takaful Limited (PQGTL) and Insurance Bazaar held a Memorandum of Understanding (MoU) ceremony to promote Takaful products through digital medium. Mr. Saqib Zeeshan (Executive Director & DCEO, PQGTL) and Mr. Noman Bashir (CEO, Insurance Bazaar) signed the agreement along with senior officials of both companies.… Continue

The Company has appointed Mr Charles Barker as Chairman of the well-established travel and tour company. An experienced hotelier, motivational speaker, author and marine conservationist, Charles has a background in running and establishing hotels, clubs, resorts and tourism development projects worldwide, including two previous engagements in Pakistan.… Continue

By: Mr. Gohar Zaman Babar, Public Relations Directorate, National Highway Authority

After coming into power, the present government focused on improving the performance of national institutions. To further enhance the efficiency and working regime of the National Highway Authority to inculcate transparency & fairness in its affairs was a great challenge to the government.… Continue

The UBL Management held a conference call earlier this week to discuss the bank’s performance post release of 9MCY21 results and its strategy going forward. The briefing was led by the bank’s CFO, Mr. Aameer Karachiwalla, Head of Investor Relations, Mr.… Continue

Attock Petroleum Ltd (APL) has posted a net profit of PKR2.4bn (EPS PKR24.0) for 1QFY22, up 90% qoq and 60% yoy. The result is slightly above our estimated EPS of PKR21.65, due to seemingly higher inventory gains. 

Key Highlights for 1QFY22:    

Net Sales are up 38% qoq to PKR72.8bn (up 61% yoy) and higher than expected, potentially due to greater sales of deregulated products (such as asphalt).… Continue

Pakistan Oilfields Limited (POL) announced its financial result today, posting a profit after tax of PKR 5,258mn (EPS: PKR 18.52) during 1QFY22 in contrast to PKR 3,629mn (EPS: PKR 12.78) in 1QFY21, depicting a jump of 45% YoY.

Result Highlights

· Net Sales in 1QFY22 witnessed a growth of 26% YoY, settling at PKR 11,077mn compared to PKR 8,758mn during SPLY amid hefty surge in realized oil prices by 68% YoY.… Continue