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Last update: Wed, 04 May 2016 03am

Company News: Pakistan

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Incorporated in 1991, Sazgar Engineering Works Limited has been seen consistently to perform reaching the apex of the Auto Rickshaw market in the country. Currently standing at sales revenue of over Rs 2 billion in the auto sector, the company faces primary competition from DS Motors. Apart from this, Sazgar is also present in the business of Wheel Rims manufacturing and sales of Home Appliances under the banner of Whirlpool Europe, Middle East & Africa (EMEA) in Pakistan.
BR Research recently sat down with Mr. Isphanyar M. Bhandara, who is the CEO of Murree Brewery Company Limited - one of the oldest public limited companies in Pakistan. Mr. Bhandara is also a member of National Assembly from PMLN on the seat reserved for minorities. During the discussion, he sheds light on the regulatory issues faced by liquor industry and over all food and beverage industry in Pakistan. Below are the edited transcripts of the interview.
Silkbank Limited in its Board meeting held on Friday declared operating profit of Rs 515 million for the quarter ended March 31, 2016. The bank's profit before tax of Rs 311 million for the quarter registered a significant increase of 313 percent compared to the same period last year. The bank's total assets base grew notably by 6 billion over this period highlighting the operational strength of the bank.
The Board of Management (BoM) of Pakistan State Oil (PSO) reviewed the company''s performance for the nine months period from July to March of Financial Year 2016 (9MFY16) here Friday at PSO House. Musadik Malik presided over the meeting. The company reported a profit after tax (PAT) of Rs 4.6 billion for 9MFY16 as opposed to Rs 3.2 billion for 9MFY15. "The increase was mainly due to growth in sales volume and margins of white oil products revised in November 1, 2014 and reduction in operating and finance cost by 10 percent and 42 percent respectively," said a company statement.
With Philips re-strategizing itself in the realm of the Internet of Things, BR Research recently sat down with Asad Jafar, the Chairman & CEO of Philips Pakistan, to talk about the firm's local and global experience. In this interview, Asad sheds light on the concept of smart cities, and how the marriage of lighting and internet can help create a win-win situation for consumers, retailers, and public service providers alike. Below are edited transcripts of the interview.
Byco Petroleum Pakistan Limited announced financial results for nine months ending March 31, 2016 of its financial year 2015-16. The company posted net sales of Rs 54 billion that resulted in an operating profit of Rs 2.13 billion. Byco Petroleum Pakistan Limited managed to recover with the return of relative stability in international crude oil prices, as it has reported a net profit of Rs 550 million for nine months ended March 31, 2016 according to a company notice sent to the Pakistan Stock Exchange on Thursday.
The Board of Directors of National Bank of Pakistan, in their meeting held on Thursday at the bank''s Head Office Karachi, approved the financial statements of the bank for the quarter ended March 31, 2016. The bank, for the three-month period ended March 31, 2016 recorded a pre tax profit of Rs 6.2 billion, 23 percent higher than Rs 5.0 billion for the corresponding period of 2015.