Nestle quarterly profit rises

KARACHI: Nestle Pakistan on Tuesday reported a profit-after-tax of Rs4.10bn and earnings per share at Rs90.42 during the first quarter of calendar 2017, up 19pc year-on-year from Rs3.44bn (eps Rs75.89) last year.

The company’s revenue grew 14pc to Rs30.4bn, from Rs26.73 and gross profit rose to Rs11.42bn from Rs9.72bn.—Equities Correspondent

ISL earnings jump

KARACHI: International Steel Ltd on Tuesday announced that its earnings per share (eps) soared to Rs1.97 in the third quarter of this fiscal year, up 102 per cent year-on-year on sales revenue of Rs9.6 billion which registered 48pc increase.

However, margins shrank to 18pc as higher raw material prices neutralised an increase in selling prices. Further, the company reported higher effective tax rate of 38pc due to outstanding deferred tax liability.—Equities Correspondent

Court bans Uber in Czech city

PRAGUE: A court has banned the ride-sharing service Uber from operating in Brno, the second largest city in the Czech Republic.

The Brno regional court issued the ban after a legal complaint by a taxi company with support from Brno City Hall.

Uber, which has been operating in Brno since Feb 1, can yet appeal the ruling.

Published in Dawn, April 19th, 2017