KARACHI: Pakistan State Oil (PSO) on Thursday reported a profit-after-tax (PAT) of Rs9 billion for the first quarter of 2021 against a loss of Rs8.7bn during the same period 2020.

After suffering a loss of Rs4.4bn in 9MFY20, company’s PAT stood at Rs18bn in 9MFY21. PSO’s gross profit during Jan-March 2021 stood at Rs18bn as compared to a loss of Rs1.8bn in the same period 2020, while gross profit for 9MFY21 was Rs39bn as compared to Rs15bn.

Indus Motor profit rises 33pc

Indus Motor Company (IMC) announced its PAT rose by 33pc to Rs3.6bn during 1QCY21 as compared to Rs2.7bn in the same period last year.

In 9MFY21, PAT surged by 69pc to Rs8.42bn from Rs4.98bn in the same period last year. IMC’s board of directors declared an interim cash dividend of Rs30 per share for the quarter, thus making the total dividend for the nine months ended March 31, 2021 to Rs67 per share.

Jazz invests Rs14bn

Jazz has invested Rs14.6bn during 1QCY21, while its overall subscriber base grew by 11.7pc year-on-year to 69.2m while 4G customer base soared by 62.3pc to 28.7m. Overall data users grew by 17pc to 47.3m.

Earnings of Unilever jump 75pc

Unilever Pakistan Foods Ltd reported 75pc growth in PAT to Rs1.45bn in 1QCY21 as compared to Rs827m in the same period 2020, while sales reached to Rs5bn from Rs3.88bn in the same period.

Offals exported to US

In a first, the Organic Meat Company Ltd has exported to the United States its first shipment of offals to be used in pet food, which can open a new export market for pet food raw material supply from Pakistan.

The shipment has already been cleared by the US Food and Drug Authority (FDA), the company said in a bourse filing. When contacted the company officials refused to give the value of the exported offals and said it was a sample shipment.

Published in Dawn, April 30th, 2021