NRL records Rs3.86bn loss

KARACHI: National Refinery Ltd (NRL) announced financial results for the half-year ending Dec 31, 2018 on Monday reporting net revenue of Rs79 billion, up 30 per cent, from the same period last year.

However, following a 360.5pc jump in finance costs, the company reported net losses worth Rs3.86bn translating into a loss of Rs48.24 per share for the period.

Attock Refinery closes 1HFY19 in red

KARACHI: Attock Refinery Ltd (ARL) booked losses worth Rs2.97bn during the half-year ending Dec 31, 2018 according to a company release issued on the exchange.

The statements reveal that the refinery’s finance costs jumped by 185.47pc in addition to a 67pc increase in cost of sales stressing the bottom-line. ATRL’s loss per share clocked in at Rs28 per share from earnings per share of Rs12.10 during the same period last year.

Attock Cement profits fall by 29pc

KARACHI: Attock Cement Pakistan Ltd (ACPL) reported unconsolidated profits for the half-year ending Dec 31, 2018 at Rs816.8 million, down 29pc, from Rs1.15 billion last year.

The slump in bottom-line profits came as a result of 6.26pc decline in gross profit clocking in at Rs2.24bn, whereas a 168.42pc and 284pc increase in distribution and finance costs added to the woes. ACPL’s earnings per share fell to Rs5.94 from Rs8.39 during the same period last year.

In a separate notice, ACPL informed the exchange that it has successfully completed the entire civil, mechanical and electrical works at its Iraqi project adding that the Cement Grinding Unit of the project is now at the commissioning stage.

Dubai Islamic issues Rs3.12bn sukuk

KARACHI: Dubai Islamic Bank Pakistan has raised Rs3.12 billion through modarba sukuk certificates.

The issue was oversubscribed against a target of Rs3bn and the certificate is perpetual with a call option exercisable in five years.

The instrument carries a profit rate of 175 basis points per annum over three-month Kara­­chi Interbank Offered Rate payable monthly. —Staff Reporter

DSFTOA elects chairman

KARACHI: Shahbaz Anwer has been elected chairman of the Deep Sea Fishing Trawler Operators Association DSFTOA, said a press release on Monday.

Other office-bearers elected were Asad Iqbal Gil as senior vice-chairman, Usman Sheikh vice-as chairman and Asad Jafri as general secretary.

Published in Dawn, January 22nd, 2019