Latest news with #HBL
Business Recorder
2 days ago
- Business
- Business Recorder
Agri financing: HBL gives largest insurance payout to farmers
KARACHI: HBL issued the largest payout of over Rs 10 million under the Area Yield Index Insurance (AYII) program, benefiting farmers in Balochistan and Sindh. This innovative insurance solution is designed to support farmers by providing financial protection against yield losses due to adverse climatic conditions and other agricultural risks. The AYII program offers extensive coverage including windstorms, frost, excessive rainfall, heat waves, hail, floods, droughts, and pest attacks. By providing this safety net, HBL is helping farmers maintain their incomes and contribute to national food security, while also demonstrating leadership in agri financing. Commenting on the payout, Aamir Kureshi, Head Products Transactional Services and Solution Delivery – HBL said, 'This payout underscores the Bank's commitment to supporting farmers in mitigating their losses incurred due to natural or environmental calamities. At HBL, we recognize the crucial role agriculture plays in ensuring Pakistan's economic growth. Our goal is to continue building a stronger, more resilient farming community and their agricultural livelihoods—because when farmers thrive, Pakistan thrives.' Copyright Business Recorder, 2025
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Business Standard
7 days ago
- Business
- Business Standard
₹102-crore order lifts HBL Engineering share price 3%; key details inside
HBL Engineering share price: Battery and engineering solutions and services provider HBL Engineering shares rose up to 2.65 per cent to hit an intraday high of ₹579 per share. At 9:51 AM, HBL Engineering share price was trading 1.77 per cent higher at ₹574 per share. In comparison, Nifty50 was trading 0.21 per cent lower at 24,772.85 level. Why did HBL Engineering share price rise in trade today? HBL Engineering share price rose after the company announced that it has secured an order worth ₹101.55 crore from IRCON International. In an exchange filing, HBL Engineering said, 'IRCON International has issued letter of acceptances to HBL for provision of the Kavach in Bangalore and Mysore divisions of South Western Railway, across 85 stations covering 778 Kms and 2 (Two) locomotives.' According to the order details, the company will be responsible for 85 stations, covering 778 Kms and 2 (two) locomotives. The company said that the time allotted to complete the contract is 18 months. HBL Engineering Q4 results HBL Engineering reported a 44 per cent year-on-year (Y-o-Y) decline in consolidated net profit for the fourth quarter ended March 2025 (Q4FY25), coming in at ₹45 crore compared to ₹81 crore in the same period last year. Revenue from operations also saw a sharp drop, falling 22 per cent Y-o-Y to ₹475.57 crore from ₹610.08 crore in Q4FY24. About HBL Engineering HBL Engineering Limited, formerly known as HBL Power Systems Limited, is a diversified Indian engineering company with a strong focus on specialised batteries, power electronics, and spun concrete products. The company rebranded in November 2024 to reflect its broader engineering capabilities beyond power systems. ALSO READ | Founded in 1988 as a joint venture between A J Prasad and Nife, Sweden, HBL Engineering has grown into a key player in India's high-technology and engineering-intensive sectors, serving a wide array of industries including defense, aviation, railways, and telecommunications. The company's core business segments include the manufacturing of advanced batteries—such as lead-acid, nickel-cadmium, silver-zinc, and lithium variants—alongside cutting-edge power electronics and railway signaling solutions. HBL is also active in the construction sector through its spun concrete products and has made strides in electric mobility with electric drivetrain kits and EV chargers.
Arab News
25-05-2025
- Sport
- Arab News
Champions to be crowned as Lahore, Quetta face off in PSL final today
KARACHI: Defending champions Lahore Qalandars will face 2019 winners Quetta Gladiators in the final of the Pakistan Super League (PSL) today, Sunday, with both sides aiming to make history in the tenth edition of the country's premier T20 tournament. The final will be played under lights at Lahore's Qaddafi Stadium, with the match set to begin at 7:30 p.m. local time. A reserve day has been scheduled for Monday in case of rain. The winner will walk away with $500,000 in prize money, while the runners-up will receive $200,000. Either the Shaheen Shah Afridi-led Qalandars will become only the second team in PSL history to win three titles, or the Saud Shakeel-led Gladiators will lift their second trophy after a six-year gap. Qalandars fought their way into the final through the playoffs, knocking out Karachi Kings and Islamabad United, while Quetta topped the points table and beat Islamabad in the qualifier to book their spot. 'I'm thrilled and honored to be leading Quetta Gladiators to an HBL PSL final and we will do our best to lift the trophy,' Shakeel said. 'Qaddafi Stadium really has been a lucky venue for us where we have won five out of our six games and will look to continue the winning momentum.' Afridi said Lahore were aiming for a title hat trick on home turf. 'We are buzzing to feature in our third HBL PSL final in the last four editions and our aim is to complete the treble at our home ground,' he said. Lahore, who finished fourth in the group stage, will take confidence from their previous outing against Quetta, where they secured a commanding 79-run win before their second encounter was washed out. Fakhar Zaman, Abdullah Shafique and Mohammad Naeem have led the charge with the bat for Qalandars, while Shaheen, Haris Rauf and Rishad Hossain have spearheaded the bowling attack. Quetta, meanwhile, have enjoyed a dramatic turnaround after finishing last in 2023. Their success this season has been fueled by consistent performances from Hasan Nawaz, Rilee Rossouw and a bowling unit featuring Abrar Ahmed, Faheem Ashraf and Mohammad Amir. Both captains promised a highly competitive final to close out what has been a landmark 34-match edition of the HBL PSL.
Arab News
20-05-2025
- Business
- Arab News
Pakistan posts 2.4 percent growth in third quarter of fiscal year
KARACHI: Pakistan's economy grew 2.4 percent in the third quarter of the fiscal year that ends in June, the national accounts committee said on Tuesday, while revising up growth prospects for the current fiscal year. In a statement the committee approved a projection of 2.68 percent provisional growth in GDP during FY 2024/25, taking the size of Pakistan's economy to $410.96 billion. This month Pakistan's central bank cut its key policy rate by 100 basis points to 11 percent, citing an improved inflation outlook and resuming a series of cuts from a record high of 22 percent, following a brief pause in March, to support growth. The latest national accounts aggregates for fiscal 2024/25 showed the size of the economy at 114.7 trillion rupees ($410.96 billion) up from 105.1 trillion rupees ($ 371.66 billion), the committee said. Growth in the agriculture sector was 1.18 percent in Q3, despite a decline in important crops, while industry contracted 1.14 percent, hit by negative growth in mining and quarrying and large-scale manufacturing. The committee also approved Pakistan's revised GDP growth at 1.37 percent in the first quarter and 1.53 percent in the second. Pakistan's manufacturing sector growth slowed to a seven-month low in April, with the HBL Pakistan Manufacturing Purchasing Managers' Index (PMI) easing to 51.9 from 52.7 in March, weighed by concerns over global trade.
CNA
20-05-2025
- Business
- CNA
Pakistan posts 2.4% growth in third quarter of fiscal year
KARACHI :Pakistan's economy grew 2.4 per cent in the third quarter of the fiscal year that ends in June, the national accounts committee said on Tuesday, while revising up growth prospects for the current fiscal year. In a statement the committee approved a projection of 2.68 per cent provisional growth in GDP during FY 2024/25, taking the size of Pakistan's economy to $410.96 billion. This month Pakistan's central bank cut its key policy rate by 100 basis points to 11 per cent, citing an improved inflation outlook and resuming a series of cuts from a record high of 22 per cent, following a brief pause in March, to support growth. The latest national accounts aggregates for fiscal 2024/25 showed the size of the economy at 114.7 trillion rupees ($410.96 billion) up from 105.1 trillion rupees ($ 371.66 billion), the committee said. Growth in the agriculture sector was 1.18 per cent in Q3, despite a decline in important crops, while industry contracted 1.14 per cent, hit by negative growth in mining and quarrying and large-scale manufacturing. The committee also approved Pakistan's revised GDP growth at 1.37 per cent in the first quarter and 1.53 per cent in the second. Pakistan's manufacturing sector growth slowed to a seven-month low in April, with the HBL Pakistan Manufacturing Purchasing Managers' Index (PMI) easing to 51.9 from 52.7 in March, weighed by concerns over global trade.
