Pkrevenue.com

Author: Hamza Shahnawaz

  • Indus Motors announces 152% growth in annual profit

    Indus Motors announces 152% growth in annual profit

    KARACHI: Indus Motor Company Limited on Friday announced 152 per cent increase in profit after tax for the year 2020/2021.

    The company declared Rs12.83 billion as profit after tax for the year 2020/2021 as compared with Rs5.08 billion in the preceding year.

    The company declared Rs163.21 as earnings per share for the year under review as compared with EPS Rs64.66 of the last year.

    Indus Motors announced Rs103.50 as dividend per share for the year as compared with Rs30 in the preceding year.

    According to analysts at Arif Habib Limited, Net sales of the company increased by 108 per cent YoY to Rs179 billion in FY21 attributable to volumetric growth of 102 per cent YoY to 57,236 units (Yaris 28,295 units, Corolla 18,355 units, Fortuner 3,543 units, Hilux 7,043 units) vs. 28,378 units (Corolla 22,140 units, Yaris 1,327 units, Fortuner 1,163 units, Hilux 3,748 units) in FY20.

    Revenue during 4QFY21 increased by 364 per cent YoY to Rs 48 billion. This is primarily owing to surge in sale of cars by 373 per cent YoY during 4QFY21 (14,566 vs. 3,078 units).

    Gross margins settled at 12.28 per cent in the quarter, up by 307bps QoQ due to appreciation of Rs against green back.

    Other income increased by 94 per cent YoY to Rs 1,686 million on account of significant jump in short term investment (government securities), and cash and bank balance.

    Effective tax rate during 4QFY21 was set at 30.75 per cent in contrast to 47.32 per cent in 4QFY20.

    Indus Motors posts 67% decline in half-year profit
  • Stock market ends down by 227 points

    Stock market ends down by 227 points

    KARACHI: The stock market remained under pressure on Friday and closed with a decline of 227 points.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,137 points as against 47,363 points.

    Analysts at Topline Securities said that the market largely remained under pressure during the trading session.

    Major contributions to the index came from Meezan Bank Limited (MEBL), Systems Limited (SYS) and Lucky Cement (LUCK), as they cumulatively contributed to 100 points.

    On the other hand Engro Corporation Limited (ENGRO), Habib Bank Limited (HBL), International Industries (INIL), Service Industries Limited (SRVI) and Oil and Gas Development Company (OGDC), as they weighed down on the index by 110 points.

    Traded volume and value for the day stood at 382 million shares and Rs.13.3 billion.

    World Call Telecom Limited (WTL) was today`s volume leader with around 31.6 million shares.

    Indus Motors Company Limited (INDU) posted its 4QFY21 result announcement in which its posted earnings per share of Rs56.1 along with a final cash dividend of Rs.36.5/share.

    Bank of Punjab (BOP) in the banking space posted 2Q2021 EPS of Rs1.4. Abbott Laboratories (Pakistan) Limited (ABOT) for its  2Q2021 posted EPS of Rs.18.79 along with an Interim cash dividend of Rs.20/share.

    Stocks end down by 273 points in range bound trading
  • Pak Rupee to Saudi Riyal on August 27, 2021

    Pak Rupee to Saudi Riyal on August 27, 2021

    KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on August 27, 2021:

    Buying: Rs 44.20 to the Saudi Riyal

    Selling: Rs 44.70 to the Saudi Riyal

    We update rates hourly so we can offer you the best SAR to PKR.

    The Saudi Riyal /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

    Pak Rupee to Saudi Riyal on August 26, 2021
  • Pak Rupee to UAE Dirham on August 27, 2021

    Pak Rupee to UAE Dirham on August 27, 2021

    KARACHI, August 27, 2021 – The exchange rates for the UAE Dirham (AED) against the Pakistani Rupee (PKR) in the open market have been reported as follows:

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  • Pak Rupee to Euro on August 27, 2021

    Pak Rupee to Euro on August 27, 2021

    KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on August 27, 2021:

    Buying: Rs 194 to the Euro

    Selling: Rs 196 to the Euro

    We update rates hourly so we can offer you the best EUR to PKR.

    The Euro /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

    Pak Rupee to Euro on August 26, 2021
  • Pak Rupee to UK Pound on August 27, 2021

    Pak Rupee to UK Pound on August 27, 2021

    KARACHI: Following are the rates of buying and selling of one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) in the open market on August 27, 2021:

    Buying: Rs 227 to the UK Pound Sterling

    Selling: Rs 230 to the UK Pound Sterling

    We update rates hourly so we can offer you the best GBP to PKR.

    The UK Pound Sterling /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

    Pak Rupee to UK Pound on August 26, 2021
  • Pak Rupee to US Dollar on August 27, 2021

    Pak Rupee to US Dollar on August 27, 2021

    August 27, 2021 – KARACHI – The exchange rate between the US Dollar (USD) and the Pakistani Rupee (PKR) has experienced fluctuations in the open market, with rates updated hourly to provide the most competitive values for currency traders and businesses.

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  • Foreign exchange rates on August 27, 2021

    Foreign exchange rates on August 27, 2021

    KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) on August 27, 2021:

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  • Pakistan produces 12.27mn mobile phones in 7 months

    Pakistan produces 12.27mn mobile phones in 7 months

    ISLAMABAD: The number of locally manufactured mobile phones in Pakistan has surpassed 12 million during seven months (January – July) of 2021.

    The local manufacturing of mobile phones has crossed the number of imported mobile phones in the same months of 2021.

    A statement issued by the Pakistan Telecommunication Authority (PTA) on Thursday regarding local production of mobile phones.

    It said the production of mobile phones by local manufacturing plants was 12.27 million and the number of imported mobile phones was recorded at 8.29 million.

    “This trend reflects a positive uptake on PTA’s Mobile Device Manufacturing (MDM) Authorization regulatory regime whereby local manufacturing within the first year of regime introduction has resulted in production of 12.27 million phones in a short span of seven months including 4.87 million 4G smart phones.”

    The PTA said that successful implementation of Device Identification Registration and Blocking System (DRIBS) along with conducive government policies, including mobile manufacturing policy, has created a favorable environment for mobile manufacturing in Pakistan.

    “It has also contributed positively to the mobile ecosystem of Pakistan by eliminating counterfeit device market providing a level playing field for commercial entities and has created trust amongst consumers due to the formulation of standardized legal channels for all sort of device import.”

    The PTA said that the government had introduced a comprehensive mobile manufacturing policy to encourage and attract manufacturers to establish their units in Pakistan.

    The telecom authority in light of the policy issued Mobile Device Manufacturing (MDM) Regulations on January 28, 2021. “Till now, 26 companies have been issued MDM authorization enabling them to manufacture mobile devices in Pakistan.”

    The companies include renowned brands e.g. Samsung, Nokia, Oppo, TECNO, Infinix, Vgotel, Q-mobile etc.

    Pakistan exports mobile phones to UAE
  • Gwadar Airport to be fully operational in two years

    Gwadar Airport to be fully operational in two years

    ISLAMABAD: The progress on New Gwadar International Airport (NGIA) was on track and it would be fully operational by September, 2023.

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