February 28, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• Repatriation of profit surges to $694m in 7MFY24

Foreign investors' repatriation of profit and dividends rose 3.15x YoY in 7MFY24 to $694.28 million compared to $220.48m worth of repatriation in the same period last year. Read more

• PKR sheds 8 paisa against greenback

The Pakistani rupee (PKR) depreciated by 8 paisa against the US dollar in Tuesday's interbank session as the currency settled the trade at PKR 279.28 per USD, compared to the previous session's closing of PKR 279.2 per USD. Read more

• PSX Closing Bell: Close Confines

The benchmark KSE-100 index ended the rangebound session on Tuesday at 63,219.1, down by 86.83 points or 0.14%. Read more

• Gold prices rise slightly in Pakistan amid global stability

Domestic bullion continued the upward journey on Tuesday, with 24-karat gold ticking up to Rs215,900 per tola, a gain of Rs100. Read more

• Samba Bank turns profitable in 2023, registers Rs1.24bn net profit

Samba Bank Limited (PSX: SBL) swung to a profit in 2023, as its net profit reached Rs1.24bn [EPS: Rs1.225] compared to a loss of Rs427.94m [LPS: Rs0.42] recorded in 2022. Read more

• Revenue slump, cost hike hit Amreli Steels hard

Amreli Steels Ltd. (PSX: ASTL) posted a wider loss in the first half of fiscal 2024 as revenue failed to lift off while expenses surged. Read more

• Currency in circulation falls by Rs75.6bn in a week

The currency in circulation within the economy till February 16, 2024 has fallen by Rs75.58bn WoW to Rs8.62 trillion. Read more

• Govt retires Rs162.9bn debt in a week

The government of Pakistan has retired a debt of Rs162.87 billion during the week ended February 16, 2024, which brings its total net borrowing for ongoing fiscal year 2024 to Rs2.58 trillion. Read more

• POWER incurs loss of Rs469.8m in 6MFY24

The bottom line of Power Cement Limited (PSX: POWER) turned red in 6MFY24 as the company incurred a loss of Rs469.8 million [LPS: Rs0.64]. Read more

• Finance cost erodes TBL’s profitability in first half of FY24

Treet Battery Limited (PSX: TBL) reported its financial performance for the half year ended December 31, 2023, wherein the company incurred a net loss of Rs283.66m [LPS: Rs0.32]. Read more

• ESBL rejects RMS Limited’s bid to acquire majority stake

Escorts Investment Bank Limited (PSX: ESBL) has declined RMS (Private) Limited's offer to acquire up to 87.96% of the company's ordinary shares. Read more

• PIBTL bounces back from losses in 1HFY24

Pakistan International Bulk Terminal Limited (PSX: PIBTL) achieved a significant turnaround in the first half of fiscal 2024, with its profits surging to Rs1.06 billion [EPS: Rs0.59]. Read more

• Ghandhara Tyre sees huge profit jump in 1HFY24

Ghandhara Tyre & Rubber Company Limited (PSX: GTYR) witnessed a remarkable increase in its profit after tax for the first six months of fiscal 2024, reaching Rs151.48 million [EPS: Rs1.24]. Read more

• MUGHAL reports Rs1.29bn profit in 1HFY24, down 4% YoY

Mughal Iron and Steel Industries Limited (PSX: MUGHAL) recorded a drop of 4.02% YoY in its earnings for 1HFY24, clocking in its profit after tax at Rs1.29 billion [EPS: Rs3.84]. Read more

• OGDC posts 30% growth in profits, distributes Rs2.5 DPS among shareholders

Oil and Gas Development Company Limited (PSX: OGDC) revealed its earnings for the first half of the fiscal year 2024, wherein the profit after tax clocked in at Rs123.3 billion [EPS: Rs28.67]. Read more

• National Foods Limited posts 22% profit growth in 1HFY24

National Foods Limited (PSX: NATF) experienced a rise of 22.06% YoY in its consolidated profits in 1HFY24, earning a profit after tax of Rs1.5 billion [EPS: Rs4.36]. Read more

• Stylers International announces Rs1 dividend despite 13% lower earnings

Stylers International Limited (PSX: STYLERS) reported its profit and loss statement for the first half of fiscal year 2024, wherein the profit after tax clocked in at Rs706.67 million [EPS: Rs1.62]. Read more

• THALL’s 1HFY24 profit soars with higher associate income

Thal Limited (PSX: THALL) recorded a massive jump of 3.07x YoY in its earnings in 1HFY24, clocking in its profit after tax at Rs5.4 billion [EPS: Rs61.73]. Read more

• Dewan Cement cuts losses by over 50% in 1HFY24

Dewan Cement Limited (PSX: DCL) reduced its losses by 53.21% YoY in 1HFY24, reporting a loss after tax of Rs341.76 million [LPS: Rs0.71]. Read more

• KAPCO remains profitable despite no sales in 1HFY24

Kot Addu Power Company Limited (PSX: KAPCO) reported its profit and loss statement for the first half of fiscal year 2024, wherein the profit after tax clocked in at Rs2.44 billion [EPS: Rs2.77]. Read more

• TPL Properties swings to loss in first half of FY24

TPL Properties Limited (PSX: TPLP) revealed its financial performance for the six months ended December 31, 2023, wherein the loss after tax clocked in at Rs1.91 billion [LPS: Rs3.4]. Read more

• BofA upgrades Pakistan bonds on political stability

Bank of America Corp (BofA) raised its recommendation for Pakistan dollar bonds to overweight from market weight, citing a decrease in political uncertainty following the elections and potential rating improvements. Read more

• GATM’s 1HFY24 profit after tax drops to Rs1.09bn

Gul Ahmed Textile Mills Limited (PSX: GATM) unveiled its profitability for 1HFY24, wherein the profit after tax dropped to Rs1.09 billion [EPS: Rs1.47]. Read more

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Posted on: 2024-02-28T06:00:00+05:00