BAFL 45.10 Increased By ▲ 0.05 (0.11%)
BIPL 20.25 Decreased By ▼ -0.26 (-1.27%)
BOP 5.40 Decreased By ▼ -0.24 (-4.26%)
CNERGY 4.53 Decreased By ▼ -0.02 (-0.44%)
DFML 15.68 Decreased By ▼ -0.02 (-0.13%)
DGKC 72.88 Increased By ▲ 1.67 (2.35%)
FABL 27.15 Decreased By ▼ -0.25 (-0.91%)
FCCL 17.65 Increased By ▲ 0.50 (2.92%)
FFL 9.09 Increased By ▲ 0.54 (6.32%)
GGL 12.64 Decreased By ▼ -0.03 (-0.24%)
HBL 110.66 Decreased By ▼ -2.04 (-1.81%)
HUBC 121.52 Increased By ▲ 2.41 (2.02%)
HUMNL 7.35 Decreased By ▼ -0.25 (-3.29%)
KEL 3.23 Decreased By ▼ -0.04 (-1.22%)
LOTCHEM 27.32 Decreased By ▼ -0.53 (-1.9%)
MLCF 39.33 Increased By ▲ 0.25 (0.64%)
OGDC 108.00 Decreased By ▼ -0.31 (-0.29%)
PAEL 17.56 Decreased By ▼ -0.19 (-1.07%)
PIBTL 5.46 Decreased By ▼ -0.10 (-1.8%)
PIOC 108.00 Increased By ▲ 2.00 (1.89%)
PPL 91.75 Decreased By ▼ -0.75 (-0.81%)
PRL 24.88 Decreased By ▼ -0.46 (-1.82%)
SILK 1.08 Increased By ▲ 0.01 (0.93%)
SNGP 63.10 Decreased By ▼ -0.62 (-0.97%)
SSGC 11.89 Decreased By ▼ -0.11 (-0.92%)
TELE 8.19 Decreased By ▼ -0.27 (-3.19%)
TPLP 13.11 Decreased By ▼ -0.23 (-1.72%)
TRG 81.61 Decreased By ▼ -3.79 (-4.44%)
UNITY 25.75 Decreased By ▼ -0.21 (-0.81%)
WTL 1.52 Decreased By ▼ -0.02 (-1.3%)
BR100 6,181 Decreased By -5.3 (-0.09%)
BR30 21,530 Increased By 70.5 (0.33%)
KSE100 60,531 Increased By 29.3 (0.05%)
KSE30 20,188 Increased By 13 (0.06%)

Engro Polymer and Chemicals Limited (EPCL), a subsidiary of Engro Corporation, said on Wednesday that it has extended its gas supply arrangement with Sui Southern Gas Company Limited (SSGC) till mid-October.

The company shared the development in a notice to the Pakistan Stock Exchange (PSX) on Wednesday.

“We would like to inform the Exchange that EPCL and SSGC have agreed to extend the term for the supply of gas up till October 15, 2023,” read the notice.

The company shared that the gas will be used for EPCL`s captive power generation plant located at Port Qasim Industrial Zone on Plot no. EZ/1P-II-I, Karachi on an “as and when” available basis.

“This will ensure that the company’s operations continue unhindered,” it added.

Back in August, EPCL entered into a supplemental agreement with SSGC for the supply of gas from August 01, 2023, to September 30, 2023

As per its latest financial results, the company saw its profit-after-tax fall to Rs1.56 billion during the quarter ended June 30, 2023, down over 33% compared to profit of Rs2.34 billion in the same period last year.

EPCL’s gross profit stood at Rs5.45 billion in the quarter, as compared to Rs7.53 billion, a drop of nearly 28%.

Net sales decreased by nearly 15% to Rs19.04 billion as compared to Rs22.27 billion recorded in the previous year. Cost of sales declined to Rs13.59 billion, compared to Rs14.75 billion recorded in the same period last year.

EPCL is a manufacturer of Poly Vinyl Chloride, Vinyl Chloride Monomer, caustic soda and other related chemicals. The company is also engaged in the supply of surplus power generated from its power plants to Engro Fertilizers Limited.

Comments

1000 characters
Mustajaab Sep 27, 2023 09:30pm
Why engro share is going down?
thumb_up Recommended (0) reply Reply

EPCL extends gas supply deal with SSGC till October 15

Inter-bank: rupee registered 3rd successive gain against US dollar

Open market: rupee strengthens against US dollar

Blinken says truce between Israel-Hamas is producing results

Will launch ‘youth card’ if we win elections: PPP’s Bilawal

Long wait for freedom: Afghan refugees in limbo in Pakistan

Oil inches up, all eyes on OPEC+ meeting outcome

Mughal Iron & Steel Industries completes acquisition of energy subsidiary

COP28: everything you need to know as climate change conference kicks off in Dubai

FCCL commissions Greenfield Cement Manufacturing Plant in Punjab

Israel and Hamas agree to extend temporary truce