Lucky Cement profit surges 135pc on construction strength
Business
January 30, 2021
KARACHI: Lucky Cement profit jumped 135 percent to Rs4.541 billion in the first half of fiscal year 2020/21, translating into earnings per share (EPS) of Rs14.04, a bourse filing said on Friday.
The company posted Rs1.936 billion with EPS of Rs5.99 in the same period ended December 31, 2019. Dividend payments were nil as per the notice submitted to the Pakistan Stock Exchange.
Sales showed improvement, as net sales went up 42 percent to Rs30.075 billion from Rs21.211 billion in the first half of 2019.
Brokerage Arif Habib Limited in a report said, “Company’s top-line witnessed an uptick of 36 percent YoY to Rs15.7 billion in
Tax collection on royalty payments surges 200pc in 1H
Business
January 29, 2021
KARACHI: Income tax collection on payment of royalty and fee for technical services surged around 200 percent during the first half of the current fiscal year, as a result of improved monitoring of payments made to non-residents, officials said.
Sources at Large Taxpayers Office (LTO) Karachi said the tax collection from payment of royalty services and fee for technical services jumped around Rs200 million during the first half of this fiscal, compared to Rs66 million in the same period of the last fiscal year.
The sources attributed the significant increase in tax under this head to measures taken by the Federal Board of Revenue (FBR) to stop the untaxed payment to non-residents on services availed by resident Pakistanis.
Apple surges to $100 billion-plus quarterly revenue
27 Jan, 2021 08:00 PM
4 minutes to read
By: Michael Liedtke
Apple s delayed launch of its latest iPhones unleashed a holiday buying frenzy that propelled sales of the trendsetting company s most popular product to its fastest start in years.
The apparently pent-up demand for four different iPhone 12 models highlighted Apple s latest quarterly report Wednesday.
Apple s iPhone sales during the October-December period totaled US$65.6 billion ($91.8b), a 17 per cent increase from the same time in the previous year.
Part of the gain reflected pandemic-driven production problems that pushed back the release of the new iPhone until October and November. In past years, including 2019, Apple rolled out its new iPhones in late September, resulting in a spike in sales in an earlier quarter than how things unfolded last year.