Business
Fauji Fertilizer announced financial result of 1Q2020
Karachi, April 27, 2020: Fauji Fertilizer (FFC) announced its 1Q2020 financial result today, where the company booked a consolidated profit of Rs4,286 million (EPS: Rs3.37) compared to Rs1,875 million (EPS: Rs1.47) in 1Q2020. Alongside result, the company announced cash dividend of Rs2.5/share. Read More: Millat Tractors Limited announced financial result of 3QFY20 Revenue of the…
Millat Tractors Limited announced financial result of 3QFY20
Karachi, April 27, 2020: Millat Tractors Limited (MTL) announced earnings of Rs553 million for 3QFY20 (EPS Rs11.09), down by 42 percent YoY. The decline in earnings is largely due to fall in unit sales by 28 percent YoY and lower Gross Margin (down 1.92 points YoY). Read More: Fauji Fertilizer announced financial result of 1Q2020…
Restaurant industry asks PM for “Relief Package” & tax waiver
Karachi, April 27, 2020: Restaurant owners have appealed to Prime Minister Imran Khan to give a “Relief Package” due to lockdown for prevention of COVID-19 pandemic, as restaurants closure across the country, including Karachi and restaurant industry is facing severe financial crunch. In an Appeal to Prime Minister Imran Khan, convener of the All Pakistan…
Business community laud PM’s “Package for SMEs”
Karachi, April 27, 2020: Capt. A Moiz Khan, patron-in-chief, North Karachi Association of Trade and Industry (NKATI) and President Naseem Akhtar has lauded package for small and medium-sized enterprises (SMEs) approved by the Economic Coordination Committee (ECC) would provide them relief amid the economic downturn brought on by the pandemic. In a statement, NKATI leaders…
Byco Petroleum reports a drop in nine-month gross profit to Rs 1.2bln amid weak demand
Byco Petroleum reported a gross profit of Rs. 11.2 billion but a net loss of Rs 2.67 billion, largely due to weak demand, high exchange rate, inventory losses, and an increase in finance costs. The company is experiencing tough market conditions as the spread of COVID-19 hurts demand but can withstand this period. Karachi, April…