Corporate Watch

Published January 24, 2020

Honda Atlas earns Rs710m

KARACHI: Honda Atlas Cars Pakistan (HCAR) declared a profit after tax (PAT) of Rs710 million for the nine months ended Dec 31, 2019 (business year to close in upcoming March) and earnings per share at Rs4.97.

It reflected a decline of 74pc over Rs2.68 billion of net income and EPS at Rs18.78 from same period last year. On a quarterly basis, the company posted loss of Rs41m with loss per share at Rs0.29, as against PAT of Rs602m and EPS Rs4.21.

Analysts said that 3QMY20 earnings came in below market expectations on account of lower-than-expected gross margins and higher-than-anticipated finance costs.—Equities Correspondent

Jazz launches cheap 4G phone

ISLAMABAD: Jazz on Thursday launched an affordable 4G smartphone to enable the low-income groups join the digital economy such as food supply chains, cab service etc.

Speaking on the occasion, Special Assistant to Prime Minister on Social Protection and Poverty Alleviation and Benazir Income Support Programme Chairperson Dr Sania Nishtar stressed for enhanced role of IT for the promotion of small scale entrepreneurship in the country.

She said the Ehsaas programme was dedicated towards poverty alleviation through leveraging technology and promoting the access of vulnerable population to digital and financial inclusion. The launched device runs on KaiOS.—Reporter

Byco Petroleum to export HSFO

KARACHI: Byco Petroleum became the first company in Pakistan to export High Sulfur Furnace Oil (HSFO), the company said in a press release issued on Thursday.

The first consignment of 25,000 metric tonnes of HSFO is currently being loaded on the Roy Maersk vessel at the Keamari Port.

The company noted that with dwindling local demand, and the passing of International Maritime Organization 2020 on Jan 1, the export of furnace oil help the sector.

Byco Chief Executive Officer Amir Abbassciy said “innovation is the key that will lead Pakistan to becoming self-sufficient in energy production.”—Staff Reporter

Published in Dawn, January 24th, 2020

Opinion

Editorial

Noon leaks
Updated 27 Sep, 2022

Noon leaks

PMO audio leaks are a national security emergency that ought to be investigated at the highest level.
Cipher probe offer
27 Sep, 2022

Cipher probe offer

CONSIDERING the toxic political polarisation in the country, former prime minister Imran Khan’s suggestion that ...
Delaying Doha plans
27 Sep, 2022

Delaying Doha plans

WHEN Doha announced its intention to spend $3bn in different commercial and investment sectors of Pakistan around a...
Debt deferment
Updated 26 Sep, 2022

Debt deferment

Pakistan’s dollar funding needs for next 5 years have never been so large and world’s appetite to hold its hands never so poor.
Dengue concerns
26 Sep, 2022

Dengue concerns

AS weather conditions change in Pakistan, the threat of dengue looms large over the land. According to a warning...
Relic of colonialism
26 Sep, 2022

Relic of colonialism

THE law on sedition, one of several holdovers of colonial times, is among the most handy instruments for controlling...