Kapco earnings slide by 15pc

KARACHI: Kot Addu Power Company (Kapco) declared 3QFY18 profit after tax at Rs2.21 billion (earnings per share: Rs2.51), down 14.7 per cent from net earnings of Rs2.59bn (EPS: Rs2.94) in corresponding period of last year.

On a cumulative basis, earnings for 9MFY18 remained flat at Rs6.6bn (EPS: Rs7.50) primarily due to a 16pc increase in cost of sales as well as 53pc rise in finance cost.

FFC posts profit at Rs2.27bn

KARACHI: Fauji Fertiliser Company (FFC) posted 1QCY18 PAT at Rs2.27bn and (EPS: Rs1.78), representing an increase of 4pc from PAT of Rs2.19 (EPS: Rs1.72). The company also declared interim cash dividend at Rs1.75 per share.

BMA Capital stated in its report that the major surprise in the results was the higher effective tax rate of 35pc in 1Q18 compared to 23pc booked in 1Q17. Topline of the company surged 84pc, driven by a 52pc hike in urea off-take to 573,000 tonnes.

Lotte Kolson sets up new factory

KARACHI: Lotte Kolson, part of the South Korean conglomerate Lotte Group, has launched a new state-of-the-art factory stretched over 20 acres in Phoolnagur Multan Road, Kasur, said a press release.

Bharti Infratel to merge with Indus

BENGALURU: India’s Bharti Infratel Ltd said it has agreed to merge with Indus Towers, in a deal that creates the world’s No. 2 telecom tower company with an estimated equity value of $14.6 billion.

Seeking to capitalise on rapid growth in smartphone usage in the country, the transaction, which values Indus Towers at roughly $10bn, will create an infrastructure giant with more than 163,000 towers, lagging only China Tower.

Published in Dawn, April 26th, 2018