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Site update: February 19 2018, at 16:30 PKST
Stock update: February 16 2018.

Recent Financial News in the 'company-news' category

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Friday, February 16 2018

PTCL profit registers 168pc increase in 2017
ISLAMABAD: Pakistan Telecommunication Company Limited (PTCL), the country’s leading telecom and ICT services provider, registered 168 percent increase in its profit during 2017 as compared to the last year. The financial results of the company for the year ending on December 31 were announced after the meeting of its Board of Directors (BoD), according to a press released issued here. In 2017, the Group revenue remained stable at Rs 117 billion after having declined by percent the year before. PTCL’s flagship and market leading Fixed Broadband service continued its progression and posted a revenue growth of 4%. Investments made in Charji/LTE during 2016/17 have started yielding positive results with revenue growth of 26%. Corporate and International revenues posted growth of 11% and 8%respectively on Yeare-on-year basis. PTCL’s overall revenue went down by 2% over last year due to continued decrease in Voice and EVO revenues, which could not be offset by growth in other segments.
Related news categories: business company-news economic-indicators misc psx stock-exchanges tech-comm
Related symbols: ptc (news stock)

Pakistan’s Meezan Bank plans capital-boosting sukuk
SYDNEY: Meezan Bank, Pakistan’s largest sharia-compliant lender, aims to raise up to 7 billion rupees ($63.34 million) through capital-boosting Islamic bonds, or sukuk, according to a regulatory filing. The bank’s board said it had approved plans for a Tier 1 sukuk issuance, subject to regulatory approval, which could be sold either as a public offering or private placement. It did not give a time frame for the sale or details of the structure. Meezan had sold Tier 2 sukuk in 2016, raising 7 billion rupees through a 10-year private placement that used a contract known as mudaraba, a type of investment management partnership. There are five full-fledged Islamic banks and 16 Islamic windows in Pakistan, the world’s second most populous Muslim nation, which held 11.9 percent of the country’s total banking assets as of September.
Related news categories: business comm-banks company-news economic-indicators misc psx stock-exchanges
Related symbols: mebl (news stock)

Thursday, February 15 2018

PTCL profit registers 168pc increase in 2017
ISLAMABAD: Pakistan Telecommunication Company Limited (PTCL), the country’s leading telecom and ICT services provider, registered 168 percent increase in its profit during 2017 as compared to the last year. The financial results of the company for the year ending on December 31 were announced after the meeting of its Board of Directors (BoD), according to a press released issued here. In 2017, the Group revenue remained stable at Rs 117 billion after having declined by percent the year before. PTCL’s flagship and market leading Fixed Broadband service continued its progression and posted a revenue growth of 4%. Investments made in Charji/LTE during 2016/17 have started yielding positive results with revenue growth of 26%. Corporate and International revenues posted growth of 11% and 8%respectively on Yeare-on-year basis. PTCL’s overall revenue went down by 2% over last year due to continued decrease in Voice and EVO revenues, which could not be offset by growth in other segments. In the 4th quarter, the decline of PTCL’s overall revenue reduced to 1% over same period last year. PTCL’s revenue for the year was Rs. 69.8 billion and the net profit was Rs. 8.4 billion, which is 22% higher compared with last year including the one off impact of VSS.
Related news categories: business company-news economic-indicators misc psx stock-exchanges tech-comm
Related symbols: ptc (news stock)

PTCL Group posts stable revenue of Rs117bn in 2017
KARACHI: Pakistan Telecommunication Company Limited (PTCL), the country’s leading telecom and ICT services provider, has announced its financial results for the year ended on December 31. In 2017, the Group revenue remained stable at Rs. 117 billion after having declined by 1 percent the previous year. PTCL Group profit registered 168 percent increase during 2017 as compared to the last year which included a one-off impact of Voluntary Separation Scheme (VSS) offered to staff. PTCL’s flagship and market leading fixed broadband service continued its progression and posted a revenue growth of 4 percent. Investments made in Charji/LTE during 2016-17 had started yielding positive results with revenue growth of 26 percent. Corporate and International revenues posted growth of 11 percent and 8 percent respectively on year-on-year basis. PTCL overall revenue was down by 2 percent over last year due to continued decrease in Voice and EVO revenues.
Related news categories: business company-news economic-indicators misc psx stock-exchanges tech-comm
Related symbols: ptc (news stock)

Bank AL Habib declares pre-tax profit of Rs14.04bn
KARACHI: The Board of Directors of Bank AL Habib Limited on Wednesday announced the financial results of the Bank for the year ended December 31, 2017. As per the results, the Bank continued its growth momentum even in the backdrop of low interest rate scenario and declared the pre-tax profit of Rs. 14.04 billion for the year ended December 31, 2017 as compared to Rs. 13.16 billion for the corresponding year showing a growth of 6.69 percent. Profit after tax for the year was recorded at Rs. 8.65 billion against Rs. 8.12 billion for the corresponding year showing a growth of 6.53 percent. Earnings per Share (EPS) of the Bank were recorded at Rs. 7.78 per share. The Bank’s total assets base increased by 22.31 percent, compared to last year and reached Rs. 919.05 billion. It’s loan book expanded significantly, standing at Rs. 339.83 billion as on December 31, 2017, showing an impressive growth of 30.00 percent in net advances, compared to the previous year end. Advances to Deposits Ratio (ADR) of the Bank now stands at 49.07 percent.
Related news categories: business comm-banks company-news economic-indicators misc psx stock-exchanges
Related symbols: bahl (news stock)

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