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KSE-100 stage sharp recovery amid buying spell by Mutual Funds; index up 976 points Stocks stage sharp recovery at Pakistan Stock Exchange (PSX), amid heavy buying spree by Mutual Funds. On Monday , the benchmark KSE-100 opened on a positive note and touched intra-day high at 45,952.45 level after gaining 1,245.69 points. However, paring some early gains the index clocked at 45,682.77 index level by the closing bell after posting a 976.01 points gain. During the session the strong earnings announcements propelled bullish sentiments as many scrips became active namely in the Banking, Oil, Fertilizer and Cement sector. The government’s allocation of six exploration blocks to Oil & Gas exploration companies also resulted in strong investment inflows towards the sectors, specifically Oil & Gas Development Company Limited and Pakistan Petroleum Limited ....
Market watch: Stocks rally on positive economic indicators tribune.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribune.com.pk Daily Mail and Mail on Sunday newspapers.
Business April 23, 2021 KARACHI: Engro Corporation profit jumped 148 percent to Rs14.77 billion translating into earnings per share (EPS) of Rs14.47 for the quarter ended March 31, 2021, as against profit of Rs5.94 billion and EPS of Rs5.76 in the same period last year. The company also declared interim cash dividend of Rs12/share along with corporate results. Engro’s consolidated revenue grew by 58 percent from Rs44.977 billion during Q1 2020 to Rs70.866 billion in Q1 2021. Domestic market witnessed strong agricultural sector performance in Q1 as farm economics continued to improve, driven by better farm output prices and enhanced support pricing. The company produced 523KT of Urea vs 572KT for the comparative period due to a turnaround in one of the plants. The company delivered quarterly Urea sales of 582KT vs 169KT and Phosphate sales of 74KT vs 36KT during the same period last year. ....
Pak Suzuki turns from loss to profit Earnings comes on back of surge in sales PHOTO: REUTERS KARACHI: Pak Suzuki Motor Company reported a profit of Rs777.8 million for the quarter ended March 31, 2021 primarily due to a spike in sales which had remained muted last year in view of the nationwide lockdown. According to a notice sent by the company to the Pakistan Stock Exchange (PSX) on Thursday, Pak Suzuki had reported a loss of Rs941.1 million during the same quarter of last year. Accordingly, earnings per share of the carmaker amounted to Rs9.45 during the first three months of 2021 against loss per share of Rs11.44 in the corresponding period of previous year. ....
Pak Suzuki Posts Mammoth Profits Despite Overpriced Cars Pak Suzuki Motor Company Limited, which is the largest player in Pakistan’s automobile industry, has announced its financial results for the first quarter ended March 31st, 2021. The company reported a profit of Rs. 777.85 million during the first quarter. The car manufacturing firm had booked a loss of Rs. 941.14 million in the same period last year, according to a notice sent to the Pakistan Stock Exchange (PSX). This turnaround was due to the increase in sales and better gross margins. PSMC’s revenues were increased by 103% to Rs. 36.09 billion as compared to Rs. 17.74 billion recorded in the same period last year. The revenues were also increased by 36% quarter on quarter. This was due to higher volumetric sales (up by 106% Year on Year) in 1QCY21 compelling to increase in price compared to the same period last year. To highlight, this abnormal increase is also due to the low base effect because of the CO ....