Financial Business, Oil & Gas Exploration sector dispatch highest profits during 11MFY20

By MG News | July 03, 2020 at 03:39 PM GMT+05:00
July 03, 2020 (MLN): Foreign companies operating in Pakistan repatriated $20.2 million in profit and dividends on investments in the country during the month of May’20 which was 89% lower than the profits repatriated in the previous month and 95% lower than that of repatriated in May’19.
On cumulative basis, during 11MFY20, Profits and dividends repatriated by multinational firms stood at $1.2 billion, showing a decrease of 27% YoY as compared to $1.67 billion repatriated in the same period of last year.
The latest data released by SBP today shows that the major sectors that repatriated relatively higher profits include Financial Business, Oil & Gas Exploration sector, Transport sector, Chemical and Communication sector, among which Financial Businesses repatriated highest profits of $232.7 million during 11MFY20, against $251 million in the corresponding period of last fiscal year, showing a decline of 7% YoY.
The data further revealed that profits outflow from the Oil and Gas Exploration sector increased to $231 million; against an outflow of $215 million in Jul-May FY19, marking a growth of 7% YoY.
The Transport sector repatriated $170.3 million, which was 3.3 times higher as they had sent $50.4 million during Jul-May FY19.
The Chemical sector repatriated 11% higher profits and dividend income during the period under review which amounted to $121.3 million, while in the corresponding period last year, the sector repatriated $109.5 million.
Meanwhile, other sectors such as Communication, Power and Food, also managed to dispatch reasonable profits of $73.2 million, $68.6 million and $59.3 million respectively during the period under study.
Copyright Mettis Link News
Related News
Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 133,653.40 162.42M |
0.21% 283.26 |
ALLSHR | 83,337.09 589.57M |
0.31% 255.93 |
KSE30 | 40,763.82 61.43M |
0.14% 58.52 |
KMI30 | 192,666.46 69.94M |
0.04% 85.78 |
KMIALLSHR | 55,916.31 351.67M |
0.14% 80.59 |
BKTi | 36,510.46 10.10M |
0.53% 193.29 |
OGTi | 28,524.23 7.09M |
-0.07% -18.73 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 108,755.00 | 108,880.00 107,680.00 |
300.00 0.28% |
BRENT CRUDE | 69.44 | 69.53 69.03 |
-0.14 -0.20% |
RICHARDS BAY COAL MONTHLY | 97.50 | 0.00 0.00 |
2.90 3.07% |
ROTTERDAM COAL MONTHLY | 106.00 | 106.75 106.00 |
0.25 0.24% |
USD RBD PALM OLEIN | 998.50 | 998.50 998.50 |
0.00 0.00% |
CRUDE OIL - WTI | 67.70 | 67.97 67.40 |
-0.23 -0.34% |
SUGAR #11 WORLD | 16.25 | 16.46 16.07 |
-0.13 -0.79% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
Name | Last | Chg/%Chg |
---|
Name | Last | Chg/%Chg |
---|