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Unprecedented FED increase to cause revenue shortfall, boost illicit trade: Philip Morris

April 28, 2023April 28, 2023Hamza Shahnawaz

The revenue collection from tobacco industry likely to fall short of targets after a massive increase in Federal Excise Duty (FED), a report revealed on Friday.

Philip Morris Pakistan reports 67% decline in quarterly profit

April 26, 2023April 26, 2023Hamza Shahnawaz

Philip Morris (Pakistan) Limited announced a 67% decrease in quarterly profit on Wednesday, according to financial results sent to Pakistan Stock Exchange (PSX).

Pakistan sees surge in illicit cigarette sales after massive tax hike, says Philip Morris

April 16, 2023April 16, 2023Faisal Shahnawaz

Sales of illicit cigarettes have surged following a massive tax hike on the legal cigarette industry, according to Philip Morris (Pakistan).

Philip Morris says tax hikes to benefit illicit tobacco sector in Pakistan

April 6, 2023April 6, 2023Hamza Shahnawaz

KARACHI: Philip Morris (Pakistan) has said that significant tax hikes on cigarettes would only benefit illicit tobacco sector.

Philip Morris Pakistan declares 11% fall in half year profit

August 10, 2022August 10, 2022Hamza Shahnawaz

KARACHI: Philip Morris (Pakistan) Limited on Wednesday announced a decline of 11 per cent in its profit for the half year ended June 30, 2022. The board of directors of Philip Morris (Pakistan) Limited at its meeting held on August 10, 2022, approved the half-year financial statement of the company for period ended June 30, […]

Philip Morris posts over 30% growth in annual profit

March 8, 2022March 8, 2022Faisal Shahnawaz

KARACHI: Philip Morris (Pakistan) Limited, a public limited tobacco manufacturing company, on Tuesday announced over 30 per cent increase in profit after tax for the year ended December 31, 2021. The company announced profit after tax to Rs2.30 billion for the year ended December 31, 2021 as compared with Rs1.76 billion in the preceding year. […]

Philip Morris declares 39% decline in quarterly profit

October 26, 2021October 26, 2021Mrs. Anjum Shahnawaz

KARACHI: Philip Morris (Pakistan) Limited on Tuesday announced a 39 per cent decline in its profit after tax for the quarter ended September 30, 2021. According to financial results shared with the Pakistan Stock Exchange (PSX), the company declared a profit of Rs351 million for the quarter ended September 30, 2021 as compared with the […]

Philip Morris declares 37% growth in half year net profit

August 27, 2021August 27, 2021Faisal Shahnawaz

KARACHI: Philip Morris (Pakistan) Limited on Friday declared over 37 per cent growth in net profit for the half year ended June 30, 2021. Philip Morris (Pakistan) Limited is one of the largest manufacturers of cigarettes in the country. The company posted a profit after tax at Rs1.72 billion for the six months period ended […]

Philip Morris announces 100pc increase in after tax quarterly profit

April 27, 2021April 27, 2021Mrs. Anjum Shahnawaz

KARACHI: Philip Morris (Pakistan) Limited, makers of cigarettes in the country, has announced around 100 percent increase in net profit for the quarter ended March 31, 2021. According to financial results submitted to Pakistan Stock Exchange (PSX) on Tuesday, the profit after tax for the quarter ended March 31, 2021 increased to Rs718 million as […]

Philip Morris declares Rs1.76bn after tax annual profit

March 18, 2021March 18, 2021Mrs. Anjum Shahnawaz

KARACHI: Philip Morris (Pakistan) Limited on Thursday declared a profit of Rs1.76 billion for the year ended December 31, 2020 as against loss of Rs1.96 billion in the preceding year. A statement said that the company recorded profit after tax of Rs1.765 billion for the year ended December 31, 2020 compared to loss after tax […]

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