Express ☺ your view, expression on this post, via Facebook comment in the below box… (do not forget to tick Also post on facebook option)

April 29, 2019

Engro to invest Rs7.5b in telecom infrastructure

Engro to invest Rs7.5b in telecom infrastructure

KARACHI: Engro Corporation has decided to diversify its businesses further as it notified plans to invest Rs7.5 billion in telecommunication infrastructure by acquiring and constructing mobile internet 3G/4G shared towers.

It has also announced that it will conduct a feasibility study to establish a polypropylene plant as the chemical is used in a variety of industrial products including packaging material and plastic parts for the automotive industry, stated a bourse filing on Friday.

The board of directors also approved the acquisition of dormant Engro Eximpt FZE from Engro Fertiliser at a price of Rs1.76 billion. The company had set up wholesale outlets to sell premium-quality rice in Karachi, said the notification.

Engro Corp’s share price inched up 0.11%, or Rs0.36, and closed at Rs323.37 with trading in 739,900 shares at the Pakistan Stock Exchange.

The company revealed that Enfrashare – a wholly owned subsidiary of Engro Infiniti – would develop potential business opportunities and accelerate the development of the country’s connectivity infrastructure while providing an opportunity to the people to be part of the new digital era.

Engro would help reduce the mobile network “operators’ capital investment on passive infrastructure, allowing them to focus on their core business and improve connectivity uptime,” it said.

“We believe the telecommunication investment by Engro is similar to Dawood Hercules’ investment (but at a lower scale) in tower share business (Edotco), which was eventually called off amidst delays in regulatory approvals,” Topline Securities said in its report. “To note, Dawood Hercules was expecting IRR (internal rate of return) of 23% on its tower share business.”

Engro Corp said the new petrochemical business under consideration “will create opportunities for both import substitution and enhancing the export potential, thus assisting in building the foreign currency reserves of the country.”

In this connection, the board of directors approved the commencement of a feasibility study of a polypropylene facility based on a propane dehydrogenation plant, which would enable the company to initiate discussions with potential partners and/or contractors, it said.

Engro Corp earns Rs4b

Engro Corporation’s consolidated profit dropped 5% to Rs4 billion in the quarter ended March 31, 2019 due to a notable fall in income from the petrochemical business.

Topline Securities said the drop in earnings came “due to 25% decline in earnings from its petrochemical arm (Engro Polymer) and 189% increase in administrative expenses in its unconsolidated operations.”

The company declared interim cash dividend of Rs7 per share.

“Engro Polymer’s (EPCL) earnings declined due to the absence of insurance gain amounting to Rs250 million that EPCL realised in 1Q2018 and higher finance cost (+70% year-on-year),” it said.

Unconsolidated administrative expenses were on a rising trend for the third consecutive quarter. During 1Q2019, the company witnessed 190% growth on the back of expenditure on the creation of Engro Leadership Academy (for training of its employees) and other feasibility-related expenses, it said.

The fertiliser business showed stagnant profitability during the outgoing quarter, where profit of Engro Fertilisers inched up 3% on a yearly basis due to realisation of unusual income to the tune of Rs650 million on the sale of land to EPCL. “Core earnings of fertiliser business were down 10-12%,” it said.

“We highlight poor crop season, scarcity of water for sowing, volatility in polymer margins and change in regulatory structure in the energy division as key risks for the holding company,” it said.



Thanks for visiting our website. Like our FB pages and subscribe for daily updates; you can comment on the above post bellow ↓with your Google id or Facebook id – Thank you for your time..☺


Follow us on social media to get instent updates....

|Twitter| |Facebook| |Pinterst| ||

Send your news/prs to us at

Note: The views, comments and opinions expressed on this news story/article do not necessarily reflect the official policy or position of the management of the website. Companies, Political Parties, NGOs can send their PRs to us at

‎لطیفے اور شاعری‎
Facebook group · 8,142 members
Join Group
یہ گروپ آپ سب کے لئے ہے۔ پوسٹ کیجئے اور بحث کیجئے۔۔۔۔۔ اپنی آواز دوسروں تک پہنچائے۔۔۔اور ہاں گروپ کو بڑا کرنے کے لئے اپنے دوستوں کو بھی گروپ میں دعو...

All Categories

Aaj Kamran Khan ke Saath Aamir Liaquat Hussain Aapas ki Bat NajamSethi Abdul Qadir Hassan AchiBaatain Afghanistan Aga Khan University Hospital AirLineJobs Allama Iqbal America Amjad Islam Amjad Anjum Niaz Ansar Abbasi APP Aqwal Zareen Articles Ayat-e-Qurani Ayaz Amir Balochistan Balochistan Jobs Bank of Khyber Banking Best Quotes Biwi Jokes Blogger Tips Chaltay Chaltay by Shaheen Sehbai China Chitral Coca-Cola Coke Studio Columns CookingVideos Corporate News Corruption Crimes Dr Danish ARY Sawal Yeh Hai Dubai E-Books EBM Education Educational Jobs Emirates English #Quotes English Columns EnglishJokes Funny Photos Funny Talk Shows Funny Videos Gilgit-Baltistan Girls Videos Govt Jobs HabibJalibPoetry Hamid Mir Haroon Al-Rashid Hasb-e-Haal with Sohail Ahmed Hassan Nisar Hassan Nisar Meray Mutabaq Hazrat Ali AS Sayings HBL Health HikayatShaikhSaadi Hospital_Jobs Huawei Hum Sab Umeed Say Hain India Information Technology Insurance International News Islam Islamabad Islamic Videos JammuKashmir Javed Chaudhry Jazz Jirga with Salim Safi Jobs Jobs Available Jobs in Karachi Jobs in KPK Jobs in Pak Army Jobs_Sindh JobsInIslamabad Jokes Jubilee Insurance Kal Tak with Javed Chaudhry Karachi Kashmir KhabarNaak On Geo News Khanum Memorial Cancer Hospital Khara Sach With Mubashir Lucman Khyber Pakhtunkhwa Lahore Latest MobilePhones Lenovo LG Life Changing Stories LifeStyle Live With Dr. Shahid Masood Live with Talat Hussain Maulana Tariq Jameel MCB Bank Microsoft Mobilink Mujeed ur Rahman Shami Munir Ahmed Baloch Nasir Kazmi Nazir Naji News News Videos NGO Nokia North Korea Nusrat Javed Off The Record (Kashif Abbasi) Off The Record With Kashif Abbasi On The Front Kamran Shahid OPPO Orya Maqbool Jan Pakistan Pakistan Army Pakistan Super League Pashto Song Photos Poetry Political Videos Press Release Prime Time with Rana Mubashir PTCL Punjab Quetta Quotes Rauf Klasra Samsung Sar-e-Aam By Iqrar-ul-Hasan Sardar Jokes Saudi Arabia ShiroShairi Show Biz Sikander Hameed Lodhi Sindh Social Media Sohail Warriach Songs Sports News Stories Syria Takrar Express News Talat Hussain Talk Shows Technology Telecommunication Telenor To the point with Shahzeb Khanzada Tonight with Moeed Pirzada Turkey Tweets of the day Ufone University Jobs Urdu Ghazals Urdu News Urdu Poetry UrduLateefay Video Songs Videos ViVO Wardat SamaaTV WaridTel Wasi Shah Zong اردو خبریں
______________ ☺ _____________ _______________ ♥ ____________________