KARACHI: Urea sales grew five percent year-on-year to 2.87 million tons in the last six months as buyers rushed to pile up stocks ahead of price hike and rainfalls boosted its demand for summer crops, a brokerage reported on Thursday. Urea sales stood at 2.72 million tons in the corresponding period a year earlier. Analyst…
Category: PSX
Corporate announcements on Pakistan Stock Exchange (PSX)
OGDC makes oil and gas discovery in Sindh
KARACHI, PAKISTAN: Oil & Gas Development Company Limited (OGDCL), operator of Bitrism Block has announced oil and gas discovery from its exploratory well Pandhi # 01, which is located in District Sagnhar, Sindh. The well has tested 9.12 Million Cubic Feet per Day (MMCFD) of gas and 520 Barrels per day of oil through choke…
Pak Suzuki posts loss in 2Q 2019
KARACHI: Pak Suzuki Motor Company (PSMC) announced its 2QCY19 ended June 30, 2019 financial results wherein the company booked net loss of Rs545 million translating into loss per share (LPS) of Rs6.62 versus profit after tax of Rs394 million and earning per share (EPS) of Rs4.78 registered during the same quarter last year. Earnings arrived better…
Habib bank posts 78% decline in profits
KARACHI: Habib Bank Limited (HBL) unveiled its 2QCY19 ended June 30, 2019 consolidated net earnings at Rs750 million translating into earning per share (EPS) of Rs0.44 versus Rs3.44 billion EPS Rs2.29 recorded during the corresponding quarter of last year, depicting a significant fall of 78% YoY in profitability. The earnings arrived well below market expectations…
Abraaj Group’s K-Electric seeks 150 mmcfd RLNG for its power plants
KARACHI: Abraaj Group’s K-Electric Limited (KE) is considering the procurement of 150 mmcfd of re-gasified liquefied natural gas (RLNG), in the initial phase, to meet the fuel requirements of its two combined cycle gas turbine power plants at the Port Qasim complex. “We have initiated the bidding process, which will determine the preferred bidder and…