Finally, after budgeting for three consecutive years and three failed attempts to launch it in the previous regime, the PML-N government successfully auctioned four 3G and one 4G licenses this Wednesday. Job, well done, sir! Its perceived to be a game changer in the stalled telecom sector where voice segment has been saturated for the past three to four years after experiencing mushrooming growth in 2004-09.
Samba Bank that effortlessly parked its money in investments until third quarter of CY13 and that too through significant amount of borrowing through repurchase agreements, turned around its stance in the last quarter of CY13. It not only shunned away its borrowings in the last quarter but also its investments. Advances, however, kept growing and resulted in an Advances-to-Deposit Ratio (ADR) in excess of Investment-to-Deposit Ratio (IDR).
The first half of FY14 was largely driven by strong production flows for the exploration and production (E&P) companies, mainly through oil production. Pakistan Petroleum Limiteds (KSE: PPL) oil production also jumped up by around 30 percent year on year in 1H FY14. With the announcement of its 3Q FY14 financial result, it is certain that FY14 will likely be the year for higher oil production.
The largest Islamic bank of the country posted its first quarterly results yesterday with a 13 percent year-on-year growth in the bottom line. The major growth drivers were massive reversals and a tremendous growth in non-funded income.
Who would have thought just two years ago, that K-Electric (formerly KESC) would be reporting profits after profit, and decent ones at that! K-Electric has proven wrong many a critics, with its resounding financial performance. The firm has taken off ever since it first reported after tax profits in FY12.
Earnings of Nishat Power Limited have remained flattish during the FY14 so far. Its latest financial performance announced at Karachi Stock Exchange revealed that the IPPs earnings increased by only four percent, year on year during 9M FY14.