KARACHI: Byco Petro­leum Pakistan reported net loss of Rs2.43 billion for the year ending June 30, converting into loss per share of Rs0.46.

In comparison, the company had posted a loss of Rs1.68bn and LPS at Rs0.32 the previous year. Results were better than expected and the stock price shot up to hit the upper circuit on Friday.

Net turnover amounted to Rs174bn, as against Rs198bn in FY19. Gross profit imp­roved to Rs2.90bn, from Rs1.96bn while the operating profit surged to Rs1.53bn, from Rs832 million.

Published in Dawn, September 26th, 2020