Kot Addu profit rises

KARACHI: Kot Addu Power Company (Kapco) posted a profit-after-tax (PAT) at Rs2.32 billion, translating into earnings per share at Rs2.60 for the first quarter of 2016-17, a growth of 10pc over the PAT and eps of corresponding quarter of last year.

“We attribute surge in profitability to higher dollar indexation, up 3.1pc year-on-year and lower operation and maintenance cost”, analyst Muhammad Awais Ashram at Foundation Securities said, adding that a favourable tilt in spreads between receivables and payables provided further support to the bottomline.—Equities Correspondent

Nestle Pakistan’s profit jumps to Rs9.8bn

LAHORE: Nestle Pakistan’s profit rose 27.8 per cent year-on-year to Rs9.8 billion during the nine months to September, the company said in a statement on Thursday.

Earnings per share increased to Rs216.47 from Rs169.41. The company’s revenue increased by 9.3 per cent to Rs84.3bn during the January-September period. The gross profit margin increased by 250 basis points compared to the same period of the last year.

Bhikki power plant gets second GE gas turbine

BHIKKI: The second unit of the world’s most efficient heavy duty GE 9HA.01 gas turbines has arrived from Belfort, France, to equip the 1,180-megawatt (MW) Bhikki Combined Cycle Power Plant in Punjab, a press release said.

The turbine follows an earlier unit that arrived in August, less than a year after the commencement of the Bhikki project. Both units are expected to enter commercial operations in 2017.

Once complete, the Bhikki facility will help to meet up to 20 per cent of the current shortfall, the release added.

Published in Dawn, October 21st, 2016