KARACHI: Kot Addu Power Company Ltd (Kapco) on Friday announced its profit-after-tax (PAT) dipped 27pc to Rs4.429 billion (earnings per share at Rs5.03) during the third quarter of FY21 from Rs6.047bn (EPS Rs6.87) in the corresponding period last year.
This takes 9MFY21 profitability to Rs15.927bn (EPS: Rs18.09), down by 10pc compared to Rs17.774bn (EPS: Rs 20.19) during 9MFY20.
Fauji Cement earns Rs1bn
Fauji Cement Company Ltd (FCCL) reported PAT at Rs1.010bn (EPS Rs0.73) for the third quarter of FY21 compared to a loss of Rs210m (LPS Rs0.15) during same period last year. The company’s 9MFY21 earnings rose to Rs2.611bn (EPS: Rs1.89) from Rs272m (EPS: Rs0.20) in 9MFY20.
KARACHI: Byco Petroleum Pakistan Ltd reported financial results for the six months ended Dec 31, 2020 recording stellar growth of 4.5 times in profit-after-tax (PAT) to Rs961 million translating into earnings per share (EPS) at Rs0.18, from PAT at Rs213m and EPS at Rs0.04 in the comparable period of the previous year.
In a press statement, the company’s CEO Mr. Amir Abbassciy, commented: “Byco expects that discussions between the Government of Pakistan and oil refineries will be productive in developing a long overdue refining policy”.
Meezan Bank earnings jump 46pc
Meezan Bank Ltd on Feb 18 announced that it posted a PAT of Rs22.17bn and EPS at Rs15.67 for the year ended Dec 31, 2020, showing impressive growth of 46pc from PAT at Rs15.23bn and EPS at Rs10.77 in the earlier year on the enhanced capital of Rs14.147bn.
SBP Selects 11 Banks for FX Portal
The names of the banks are:
Allied Bank Ltd.
MCB Bank Ltd.
The Bank of Punjab
The SBP has launched the FX Regulatory Approval System (RAS) for end-to-end digitalization of the Foreign Exchange (FX) related case submission processes.
The objective of this initiative is to provide both individuals and the business community a fully-digitized platform to approach banks for their FX-related requests.
The initiative will transform FX operations by replacing paper-based requests with electronic submissions, which is both efficient and cost-effective.
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The central bank has developed this online platform under the umbrella of its ‘Knowledge Management System’ to digitize its decision-making processes. The system will eliminate the inherent problems related to the paper-based processes and will ensure the timely delivery of its services to stakeholders.