KARACHI: Pakistan Refinery Ltd posted loss of Rs3.48 billion for 9MFY19, translating into loss per share at Rs11.32.
It replaced the profit after tax (PAT) of Rs694 million and earnings per share (EPS) at Rs2.26 recorded in same duration last year. Revenues rose to Rs81.4bn from Rs64.6bn, but due to cost of sales exceeding sales, gross profit of Rs990m earned in the 9MCY18 turned to gross loss at Rs1.84bn in latest period.
Directors said the company again faced external challenges of negative refining margins and devaluation of the rupee, which adversely impacted both the company and industry.
WorldCall earns Rs118m
WorldCall Telecom Limited earned consolidated PAT at Rs118m in 1QCY19, from Rs115m. EPS (basic) amounted to Rs0.07, as against Rs0.10.
Revenue grew to Rs1.03bn, from Rs710m but finance costs wiped out the benefit as they rose to Rs86m, from Rs51m.
Honda raises two-wheeler prices
Atlas Honda Ltd (AHL) on Thursday raised prices of various models for fourth time in current calendar by Rs400-2,000 effective for Wednesday onwards.
Following the hike, CD-70, CD Dream and Pridor are now priced at Rs 70,900, Rs 74,900 and Rs 96,900, up by Rs 400 respectively.
With an increase of Rs 1,500, the new rates of CG125, CG125S, CG125S Special Edition, CB125F and CB125F Special Edition are Rs 117,500, Rs 136,500, Rs 137,900, Rs 161,500 and Rs 163,500 respectively. CB150F now costs Rs 193,900, up by Rs 2,000.
AHL has increased two-wheeler prices by at least ten times from January, 2018 to May 1 attributing it to rupee devaluation despite achieving over 92 per cent localisation. Sales of Honda bikes stood at 823,918 units in 9MFY19 versus 838,395 units in same period last fiscal.
Pakistan’s overall import bill for bike CKD/SKD kits went up to $611 million in 9MFY19 from $593m in same period last fiscal year.
$63m facility opened in Multan
MULTAN: PepsiCo officially opened its new manufacturing facility in Multan on Thursday. The new plant will produce and supply snacks such as Lays and Kurkure for Pakistan and its export markets.
According to a press release, the greenfield project is a $63 million invetment, expected to create 1,500 direct and indirect job opportunities. Plant’s strategic location is in close proximity to PepsiCo’s agricultural partners.
Published in Dawn, May 3rd, 2019