Pak Suzuki posts Rs9.6bn loss

KARACHI: Pak Suzuki Motor Company Ltd (PSMCL) reported a net loss of Rs9.67 billion during the first half of 2023 as compared to a net loss of Rs17m in the same period last year due to massive exchange loss in the first quarter (January-March).

Net sales revenues declined to Rs43bn from Rs112bn during January-June 2022. Sales revenue decreased by 61pc during the period due to decline in sales volume. PSMCL, however, earned a net profit of Rs3.2bn in the April–June quarter.

Friesland Campina profit rises to Rs1.32bn

Sales of Friesland Campina Engro Pakistan Ltd swelled to Rs47bn for the six months ending June 30 from Rs30.8bn in the same period 2022 fuelled by volume growth, favourable portfolio mix, pricing management initiatives and distribution expansion. Profit rose to Rs1.326bn from Rs938m.