June 25, 2022

Pkrevenue.com

Pakistan Revenue

Category: Corporate

ITMinds, Pak Qater enter into outsourcing arrangement
Jun 7
Corporate

ITMinds, Pak Qater enter into outsourcing arrangement

KARACHI: ITMinds Limited (ITMinds), a wholly owned subsidiary of Central Depository Company of Pakistan Limited (CDCPL), has entered into outsourcing arrangement with Pak Qatar Asset Management Company Limited (PQAMCL) AND Pak Qatar Family Takaful Limited (PQFTL) to provide Back Office Accounting Services to PQAMCL and PQFTL. The agreements were signed by Farhan Shaukat CEO-PQAMCL, Ahsan […]

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Honda Cars declares 40% surge in annual profit
May 26
Automotive, Corporate

Honda Cars declares 40% surge in annual profit

KARACHI: Honda Atlas Cars (Pakistan) Limited announced a sharp growth in profit by 40 per cent to Rs2.51 billion for the year ended March 31, 2022. According to financial results submitted to Pakistan Stock Exchange (PSX) on Thursday, the annual profit after tax of the company was Rs1.79 billion in the preceding year. The sales […]

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GlaxoSmithKline rejects allegations
May 23
Corporate, National

GlaxoSmithKline rejects allegations

KARACHI: GlaxoSmithKline (GSK) Consumer Healthcare Pakistan Limited has rejected allegations and said consumer health is its top priority. In a communication sent to Pakistan Stock Exchange (PSX) on May 20, 2022, the company said about the allegations made by the Young Pharmacists Association against DRAP, GSK and various other organisations etc. While we see no […]

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K-Electric, Siemens sign deal for KKI Grid construction
May 17
Corporate, Energy

K-Electric, Siemens sign deal for KKI Grid construction

KARACHI: K-Electric has awarded the EPC contract for the construction of 500/220 kV KANUPP – K-Electric Interconnection (KKI) Grid to Siemens (Pakistan) Engineering Company Limited, according to a statement issued on Tuesday. The signing ceremony between Siemens and K-Electric was held at KE’s Head Office. KKI Grid will be the addition of fourth interconnection in […]

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MCB Bank finalizing Easypaisa acquisition
May 10
Corporate, Money & Banking

MCB Bank finalizing Easypaisa acquisition

KARACHI: MCB Bank is in final stage for making decision regarding acquisition of Easypaisa, top management of the bank said on Tuesday. “The bank is in final stages of making a decision on potential Easypaisa acquisition and the announcement in this regard will be made shortly,” the management told at analyst briefing. Management indicated that […]

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Pak Kuwait Investment, Enertech sign $750 million pact
May 9
Corporate, Money & Banking

Pak Kuwait Investment, Enertech sign $750 million pact

KARACHI: Pakistan Kuwait Investment Company Pvt. Ltd. (PKIC) and Enertech Holding Company KSC (Enertech), a subsidiary of Kuwait Investment Authority, have signed an agreement worth $750 million to collaborate and jointly explore investment opportunities and business potential primarily within Pakistan, a statement said on Monday. Embarking on this journey of alliance with this agreement, both […]

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Rupee devaluation severely affects KE’s profitability
May 9
Corporate, Energy

Rupee devaluation severely affects KE’s profitability

KARACHI: The net profitability of K-Electric declined by 84 per cent to settle at Rs1.5 billion in relation to last year’s Rs 9.44 billion mainly sharp devaluation in Pakistan Rupee (PKR). A statement issued on Monday stated driven by continued and targeted investments of Rs 36.99 Billion across the power value chain, key operational indicators […]

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BankIslami registers 34% profit after tax during 1Q22
Apr 30
Corporate, Money & Banking

BankIslami registers 34% profit after tax during 1Q22

KARACHI: BankIslami Pakistan Limited has declared 34 per cent growth in profit after tax during quarter ended March 31, 2022. Underpinned by growth in customer base, increase in income levels and improvements in cost efficiency; BankIslami’s underlying operating profit before provisioning for 1Q22 registered an increase by 95.8 per cent i.e. increase from Rs. 684 […]

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