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…