Tag: profit
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Samsung Electronics expects 10-fold rise in Q1 profit
Samsung Electronics said Friday it expects first-quarter operating profits to rise more than 10-fold year on year as chip prices recover. The firm is the flagship subsidiary of South Korean giant Samsung Group, by far the largest of the family-controlled conglomerates that dominate business in Asia’s fourth-largest economy. The tech giant said in a regulatory filing that January-March…
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New profit rates unveiled for National Savings Schemes
The Central Directorate of National Savings (CDNS) has recently adjusted the rates of return on several National Savings Schemes.
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Pak Suzuki’s fiscal year ends with Rs9.68 billion loss: Operational disruptions and low demand
Pak Suzuki Motor Company Limited ({PSMCL) has reported a substantial net loss of Rs9.68 billion for the fiscal year that ended on June 30, 2023. The loss was attributed to import restrictions and weakened demand, causing a significant increase compared to last year’s Rs17.238 million loss.
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Petroleum dealers’ strike averted: Govt approves Rs1.64 per litre profit margin increase
The government has successfully reached an agreement with the Pakistan Petroleum Dealers Association (PPDA) to avert the strike they had threatened last week. After extensive negotiations, the government agreed to increase the profit margin on petroleum products for dealers by Rs1.64 per litre.
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Kya log waqai mehngai se tang aa kar apna sona baich rahay hain?
From meeting hospitalisation expenses to paying hefty electricity bills, Pakistanis are increasingly selling their gold jewellery to tide over inflation in Pakistan. This trend has been fueled by mounting expenses, such as expensive food products, rising petroleum prices, education fees, medical expenses, and house rents, in the face of low income. According to multiple sources…
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Pak Suzuki suffers losses of Rs17.23 million due to rising production costs
Pak Suzuki Motor Company Ltd. (PSMC) reported its half-yearly results, which were completed on June 30, 2022. The company reported a net loss of Rs17.23 million against a net profit of Rs1.19 billion, according to the automaker’s latest filing on the Pakistan Stock Exchange (PSX). According to Mettis Global, the company’s sales revenue climbed 30…
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Shell Pakistan posts after-tax profit of Rs7.4 billion in first half of 2022
The results for the first half of the year are announced by Shell Pakistan Limited’s (SPL) Board of Directors. In comparison to the profit of Rs2,153 million recorded during the same period last year, the company reported an after-tax profit of Rs7,469 million in 2022. The significant rebound is a result of increased company performance…
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Microsoft reduces profit estimation due to market volatility
Microsoft slashed its fourth-quarter profitability and earnings projections on June 2, becoming the latest U.S. corporation to notify of the impact of a stronger dollar. An aggressive Federal Reserve and increased geopolitical tensions have driven the dollar up 14 per cent against a basket of currencies in the last year, forcing companies like Coca-Cola Co…
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Honda Pakistan records 40 per cent increase in earnings
Honda Atlas Cars Limited (HACL) concluded the financial year with a 40 per cent increase in earnings, giving investors reason to be optimistic. This is despite several challenges including an ongoing chip shortage, rising commodity prices on overseas markets, hefty freight rates, and the rupee’s depreciation. “The result is below our expectations, which is mainly…
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The recent ban on imports might barely make a dent
On Thursday, May 19th, 2022, the federal cabinet issued a list of 41 items which will be banned from being imported for two months. This is in an attempt to address the current account deficit. The list of products is banned from being imported into the country, which means that essentially any shops or restaurants…