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KARACHI STOCK MARKET NEWS
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OGDC profits keep on rising with soaring energy demand
Energy demand never falls and it seems, neither do the profits of its industry. Oil and Gas Development Company beat all estimates by posting a 42% increase in profits in the first nine months of fiscal 2012. The country’s largest oil and gas explorer’s profits stood at Rs69.24 billion during July 2011 to March 2012, [...]
Corporate Results: Engro Corporation flips from profit to a loss
Engro Corporation switched to a loss making regime in the quarter ended March 31 as its flagship fertiliser business witnessed a massive slowdown. The country’s largest local conglomerate posted net loss of Rs.649 million in January to March 2012 profits against a profit of Rs2.1 billion in the same period last year, The major reason behind [...]
SNGPL profits more than double
Sui Northern Gas Pipelines Limited (SNGPL) net profit more than doubled to Rs1.01 billion in the current financial year so far mainly due to rise in sales. The only gas provider to the northern part of the country is operating at its full capacity, hence sales swelled 36% to Rs165 billion during July 2011 to [...]
