The largest oil and gas exploration and production company was awarded 29 new exploration licenses earlier this year by the Directorate General Petroleum Concessions (DGPC), which almost doubled the company’s exploration portfolio.
National Investment Trust (NIT), the largest asset management company, announced its 9M FY14 results yesterday. The financial had both positives and negatives, owing to changes in accounting policy relating to ‘element of income’.
The first quarter of CY14 has been unsurprisingly pleasant for banks. And Bank Alfalah joined the ride with an impressive financial performance. The bank’s P&L is in good shape, with double-digit growth from top to bottom in almost every head of account.
The fortune of GlaxoSmithKline Pakistan (GLAXO) shifted its gears with the start of 2014. The company closed the first quarter ending March 2014 with a growth of 20 percent in its bottom line where ‘other income’ emerged as the saving grace for its growth in profitability.