KARACHI: Allied Bank Limited (ABL) has announced a substantial 51% increase in its after-tax profit for the first quarter ended March 31, 2024, reaching Rs 11.6 billion.
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Corporate sector insights covering business strategies, governance, finance, taxation, and regulatory developments shaping company performance.
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GSK Pakistan to Appeal Drug Court Decision
Karachi, April 23, 2024 – GlaxoSmithKline (GSK) Pakistan announced plans to challenge a recent decision by the Drug Court in Rawalpindi, which found certain current and former company officials guilty under the Drugs Act of 1976 for distributing sub-standard drugs.
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Habib Bank Announces Profit of Rs 15.04 Billion for Q1 2024
Karachi, April 23, 2024 – Habib Bank Limited (HBL), one of Pakistan’s premier banking institutions, has declared a substantial after-tax profit of Rs 15.04 billion for the first quarter of the calendar year 2024, marking a significant increase from Rs 13.26 billion reported in the same period last year.
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PPL Announces Significant Production Enhancements
Karachi, April 20, 2024 – Pakistan Petroleum Limited (PPL) disclosed an encouraging update on Monday regarding a substantial enhancement in its hydrocarbon production over the past six months, spanning from October 2023 to March 2024.
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Murree Brewery Posts 84% Profit Surge in Nine Months of FY24
In a robust performance, Murree Brewery Company Limited has recorded a significant 84% increase in its profits for the first nine months of fiscal year 2023-24. The company’s after-tax profit soared to Rs 1.79 billion, up from Rs 973 million in the corresponding period of the previous fiscal year.
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Mari Petroleum Announces First Oil Discovery in Sindh
Karachi, April 22, 2024 – In a significant development for Pakistan’s energy sector, Mari Petroleum Company Limited (MPCL) revealed on Monday that it has discovered oil at the Shawal-1 exploratory well in the Sindh province.
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PTCL Declares Rs 4.79 Billion Loss in 1QCY24
Pakistan Telecommunication Company Limited (PTCL) has reported a substantial loss of Rs 4.79 billion for the first quarter of 2024, according to the financial results released on Thursday. This news comes amidst a challenging economic landscape and evolving market dynamics.
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Mari Petroleum Announces Successful Drilling of Appraisal Well
In a significant development within the energy sector, Mari Petroleum Company Limited (MPCL) proudly declared the triumphant drilling of yet another appraisal well within the Mari Development and Production Lease (D&PL) located in Sindh.
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SECP Registers First Digital Takaful Operator
In a landmark development, the Securities and Exchange Commission of Pakistan (SECP) has ushered in a new era of digitalization in the insurance sector by registering and issuing a license to M/s Salaam Family Takaful Limited as the country’s first-ever digital family takaful operator.
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Bank Alfalah Considers Acquisition Offer from Bank Asia Limited
The Board of Directors of Bank Alfalah Limited has given its in-principle approval to the non-binding indicative offer received from Bank Asia Limited, Dhaka, Bangladesh, to acquire Bank Alfalah’s operations and assets in Bangladesh.
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