Karachi, October 23, 2024 – United Bank Limited (UBL) has announced its highest-ever quarterly earnings, reporting a remarkable profit of Rs18.3 billion for the third quarter of 2024 (3Q2024), translating to an earnings per share (EPS) of Rs14.96. This represents a 24% year-on-year (YoY) and quarter-on-quarter (QoQ) increase, aligning with market expectations.
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Corporate sector insights covering business strategies, governance, finance, taxation, and regulatory developments shaping company performance.
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Lucky Cement Completes 28.8 MW Captive Wind Power Project
Karachi, October 22, 2024 – Lucky Cement Limited has successfully completed and commissioned its 28.8 MW captive wind power project at its Karachi plant, marking a major milestone in Pakistan’s renewable energy sector. The project, completed on schedule and within budget, officially began operations on October 22, 2024.
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Meezan Bank Reports 34% Profit Growth in 9M CY24
Karachi, October 21, 2024 – Meezan Bank Limited has reported an impressive 34% year-on-year (YoY) growth in profit after tax for the nine-month period ending September 30, 2024.
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HBL Reports 13% YoY Decline in Q3 2024 Earnings
Karachi, October 16, 2024 – Habib Bank Limited (HBL) announced a 13% year-on-year (YoY) decline in earnings for the third quarter of calendar year 2024 (3QCY24), with profits totaling PKR 14.5 billion (Earnings Per Share: PKR 9.85).
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PTCL Reports Rs 6.3 Billion Quarterly Loss Amid Revenue Growth
Pakistan Telecommunication Company Limited (PTCL) has reported a substantial net loss of Rs 6.3 billion for the third quarter ending on September 30, 2024, a significant increase from the Rs 2.8 billion loss recorded during the same period last year. This financial setback comes despite notable improvements in the company’s revenue and gross profit.
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PPL Commences Oil and Gas Production from Adhi South-9
Karachi, October 14, 2024 – Pakistan Petroleum Limited (PPL) has successfully commenced oil and gas production from its new development well, Adhi South-9, located within the Adhi Mining Lease. This marks a significant step in the company’s ongoing efforts to boost the country’s domestic oil and gas output.
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DFML Announces Dispatch of First Lot of EV Vehicles
Karachi, October 11, 2024 – Dewan Farooq Motors Limited (DFML) made a significant announcement on Friday regarding the delivery of the first batch of electric vehicles (EVs) to Eco-Green Motors Limited (EGML). In a statement shared with the Pakistan Stock Exchange (PSX), DFML confirmed the successful assembly of these vehicles under a toll manufacturing agreement, marking a pivotal moment for the local electric vehicle industry.
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PPL Reaches Momentous Settlement with Iraqi Oil Company
Karachi, October 7, 2024 – Pakistan Petroleum Limited (PPL) has disclosed the successful conclusion of a long-standing contractual matter with Midland Oil Company (MdOC) of Iraq, culminating in a strategic settlement agreement concerning Block-8 in Iraq.
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MD OGDCL Unveils 12% Revenue Growth and Key Discoveries
Karachi, October 4, 2024 — Oil and Gas Development Company Limited (OGDCL), Pakistan’s leading exploration and production (E&P) company, has announced a 12% annual increase in sales revenue for the fiscal year 2023-24, according to CEO and Managing Director Ahmed Hayat Lak.
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Unclear Tax Liability Becomes Major Obstacle in PIA Privatization
ISLAMABAD: The privatization of Pakistan International Airlines (PIA) has encountered a significant setback as unresolved tax liabilities and labor issues have deterred pre-bidding parties from moving forward.
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