KARACHI: Mari Petroleum Company Ltd on Monday unveiled financial results for the three-months ended September 30, posting profit after tax at Rs9.07 billion, representing earnings per share of Rs67.96 and distributable earning per share at Rs1.53.

The PAT showed growth from Rs7.46bn and EPS at Rs55.94 with distributable EPS at Rs1.51 in the corresponding quarter of the previous year. Net sales rose to Rs20.3bn for the quarter, up from Rs17.8bn same time last year.

Avanceon subsidiary grabs contract in Qatar

Avanceon Automation and Control W.L.L, a subsidiary of Avanceon Limited in Qatar, has been contracted to provide an intelligent Transport System for the Public Works Authority Ashghal in Lusail City, Avanceon, a company listed on the technology sector informed the PSX in a ‘material disclosure’ statement on Monday.

“The multimillion-dollar project (worth over $10 million) is part of Qatar’s initiative to redesign and upgrade the existing roads network and infrastructure services,” the company stated and affirmed that the contract execution gave a pathway for positive impact on group’s business and value for its shareholders.

The company also specified the details of the contract in the notice.

EPQL earnings fall

Egro Powergen Qadirpur Ltd announced profit after tax for the nine months ended September 30 at Rs2.03bn against PAT at Rs2.61bn for the corresponding three quarters of 2019. Earning per share — basic and diluted worked out at Rs6.27 against Rs8.06 year-on-year.

Synthetic Products posts profit

Synthetic Products Enterprises Limited posted PAT at Rs87.6m for the quarter ended Sept 30 and earning per share at Re0.99, up from Rs74.0m and EPS at Re0.84 for same quarter in 2019.

Published in Dawn, October 20th, 2020

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