The KSE-100 Index rose by 2.5% this week, gaining slightly over 2,900 points and reaching an all-time intraday high of over 119,000.
The sentiment boosters this week included the successful completion of negotiations with the IMF, news and rumors about a potential methodology to address the circular debt issue in the power sector, and the IMF's nof for the proposed plan.
Brent crude futures climbed above $72 per barrel on Friday, on track for their strongest week since early January. Supply concerns were driven by new U.S. sanctions on Iran and OPEC+ plans for output cuts. On Thursday, the U.S. Treasury imposed fresh Iran-related sanctions, including its first targeting of a Chinese refiner. This marked the fourth round since February when President Trump pledged to reimpose "maximum pressure" to curb Iran’s oil exports to zero.
IGI Life Insurance Limited (PSX: IGIL) has announced its financial results for the year ended December 31, 2024. The company reported a profit after tax of Rs 279 million, a significant decline compared to Rs 142.7 million in the previous year.
Maple Leaf Cement Factory (MLCF) has recently seen notable updates in its financial outlook and market performance. The company’s last traded share price stands at PKR 59.25, reflecting a 2.1% increase over the past week. This upward movement aligns with positive revisions in consensus estimates for the company’s future performance.
Repatriation of profits and dividends in Pakistan reached USD 233.3 million in February 2025.
So far in the first eight months of the fiscal year 2025, total repatriations have amounted to USD 1,550.8 million, showing significant growth compared to the previous year.
Cement dispatches rebounded strongly in 2QFY25, rising 23% QoQ to 9.9 million tons. This positive momentum carried into early 3QFY25, reducing the 8MFY25 decline to 6% YoY—an improvement from earlier trends.
This recovery followed a challenging 1QFY25, where local dispatches dropped ~20% YoY and 7% QoQ to 8.1 million tons. The decline was driven by a sharp increase in bag prices due to a rise in FED per bag from Rs. 2 to Rs. 4, along with dealer strikes over new taxation measures in the FY25 budget.
OGDC carries a high weight in PSX indices and pays consistent quarterly dividends. That is reflected in its price stability.
Recent profitability was primarily driven by higher international oil prices and a substantial depreciation of the Pakistani Rupee.
The company has substantial other income linked to interest rates. However, as interest rates decline, this income has decreased, negatively impacting earnings. Given OGDC's minimal finance costs, it does not benefit from lower interest rates.
The Monetary Policy Committee (MPC) of the State Bank of Pakistan, in its meeting on March 10, 2025, decided to keep the policy rate unchanged at 12 percent. The decision was influenced by lower-than-expected inflation in February 2025, primarily due to a drop in food and energy prices. However, the MPC noted the persistent elevated level of core inflation and the potential for food and energy prices to rise again. Economic activity is showing signs of recovery, but there are pressures on the external account due to rising imports and weak financial inflows.
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PPL posted a profit of Rs. 10 per share for the latest quarter ending Dec 2024. Also declared a cash dividend of Rs. 2 per share.
The income was boosted by a higher level of other income of Rs 8.8 billion.
This brings the net income of PPL to a total of Rs. 35.4 per share for the last four quarters, while in the last four quarters total cash distribution was Rs. 7.5 per share.