Hi-tech lubricants to set up 26 petrol pumps across Punjab

By MG News | February 15, 2018 at 01:24 PM GMT+05:00

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In a bourse filing, Hi-tech Lubricants (HTL) today announced that it has received approval from Oil & Gas Regulatory Authority to acquire no objection certificates (NOCs) from concerned departments including District Coordination Officers (DCOs) to setup petrol pumps across the province of Punjab.

The company seeks to acquire NOCs for up to 26 retail outlets in Punjab Province only after completion of necessary storage infrastructure, 3rd Party Inspector Reports confirming the storage depots meeting OGRA’s Technical Standards and relevant approvals from OGRA.

Hi-tech Lubricants Pakistan announced financial results for the quarter and half year ending December 31st, 2017 on 1^st of February, 2017.

The company reported Net Sales worth Rs. 5.398 billion during the half year against Rs. 4.382 billion same period last year.

HTL reported a profit of Rs. 381.597 million with an EPS of 3.29/share.

Bourse filing on the approval from OGRA can be accessed here.

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