Kohat Cement Company Limited (KOHC) announced its financial result for 9MFY24 today, posting a PAT of PKR 6,512mn (EPS: PKR 33.25) compared to a PAT of PKR 5,363 (EPS: PKR 26.91) in SPLY, up by 21% YoY. During 3QFY24 earnings clocked in at PKR 2,058mn (EPS: PKR 10.51) against PKR 1,624mn (EPS: 8.29), showcasing a…
Category: PSX
Corporate announcements on Pakistan Stock Exchange (PSX)
Attock Cement Pakistan 3QFY24 earnings arrived at PKR 1.30/share
Attock Cement Pakistan Limited (ACPL) announced its financial result for 9MFY24 today, posting a PAT of PKR 2,219mn (EPS: PKR 16.14) compared to PKR 1,057 (EPS: PKR 7.70) in SPLY, a jump of 110% YoY, mainly owed to gain on sale of the subsidiary ‘Saqr AL Keetan for Cement Production Company Limited’. During 3QFY24 earnings…
Maple Leaf Cement Factory profitability declined by 20% in 9MFY24
Maple Leaf Cement Factory Limited (MLCF) announced its financial result for 9MFY24 today, posting a PAT of PKR 5,374mn (EPS: PKR 5.01) compared to a PAT of PKR 6,185mn (EPS: PKR 5.76) in SPLY, down by 13% YoY. On a quarterly basis, the earnings settled at PKR 1,505mn (EPS: PKR 1.40) in 3QFY24 vis-à-vis PKR…
Closing the Gap: SEC Champions Gender Pay Equality in Pakistan’s Corporate Sector
Securities and Exchange Commission of Pakistan (SECP) has introduced a transformative directive that mandates all listed companies to disclose the gender pay gap in their annual reports. This directive is not an isolated initiative but is intricately connected to the broader vision of the Prime Minister’s Women Empowerment Package 2024, which underscores the government’s commitment…
IFC to finance PTCL Group’s acquisition of Telenor Pakistan
Islamabad: The Board of Directors of the International Finance Corporation (IFC) has provided a go-ahead for financing to PTCL Group for the purchase of Telenor Pakistan. The decision follows PTCL Group’s signing of a share purchase agreement with Telenor Pakistan for the acquisition of a 100 percent stake in the company on a cash-free, debt-free basis. PTCL…
Engro Corporation to sell its thermal assets to Liberty Power for Rs35 billion
KARACHI, PAKISTAN: Engro Corporation (ENGRO) has announced to sell its thermal power assets in what is being termed as one of the largest acquisitions in the nation’s recent history. Engro Energy Limited (EEL), ENGRO’s fully owned subsidiary, has finalized agreements to divest its entire stakes in three key entities to Liberty Power Holding (Pvt.) Limited,…
K-Electric to build 200MW hybrid renewable energy project in Karachi
K-Electric Limited (KEL) has proposed a groundbreaking 200 MWp renewable hybrid power project. This initiative, combining wind and solar energy, is set to be developed at the Dhabeji Grid in Karachi. K-Electric proposed a competitive benchmark tariff of US Cents 5.1313/kWh, coupled with a request for USD indexation on the entire tariff to counter the…
Systems Limited posts 31% increase in net profit during 2023
KARACHI, PAKISTAN: Systems Limited (SYS), a leading technology and telecommunications service provider, has reported a robust financial performance for the calendar year 2023. The company’s profit after tax (PAT) soared to PKR 8,689 million, marking a significant 31% year-over-year (YoY) increase from the previous year’s PKR 6,629 million. Earnings per share (EPS) also rose from…
Pakistan’s power generation hits a 3.5-year low amid cost fluctuations
Why wind is underutilized in Pakistan for power generation? KARACHI: Pakistan’s power generation has plummeted to its lowest in over three years. February 2024 saw a significant 14% month-on-month (MoM) decrease, with the generation clocking in at just 7,130 gigawatt-hours (GWh). This downturn marks the most substantial dip since mid-2020, underscoring a worrying trend in…
Engro Fertilizers takes action to reinforce urea pricing regulations
KARACHI: Engro Fertilizers, a leading agricultural support company, has taken decisive steps to ensure the enforcement of urea pricing guidelines in line with the Government’s directives. The move aims to guarantee the availability of urea to farmers at officially sanctioned prices. In a series of dealer conferences held in Lahore, Multan, and Hyderabad, Engro Fertilizers…
Acquisition of Advans Microfinance Bank by MNT – Halan Pak B.V. approved
ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved the acquisition of Advans Pakistan Microfinance Bank Limited by a Dutch-based holding company, MNT–Halan Pak B.V. This transaction marks a significant development in the microfinance banking sector of Pakistan. MNT – Halan Pak B.V. is a holding company incorporated in the Netherlands, with a presence in…
How GST hike could spell doom for Pakistan’s auto industry
Pakistan’s auto industry is facing a crisis as the government plans to increase the goods and services tax (GST) on small size sedans from 17% to 25%. This move could have disastrous consequences for the economy, the consumers, and the investors, according to the Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM). The PAAPAM…