Latest news with #HTL
New Indian Express
12-05-2025
- Business
- New Indian Express
MCD urges public to verify permissibility of commercial activities
NEW DELHI: TheMunicipal Corporation of Delhi has requested the public to verify whether any proposed commercial activity is permissible under the Master Plan-2021 before depositing conversion, parking, registration, or Health Trade License (HTL) charges. This verification can be done either through the official MCD website or by visiting the relevant MCD office. The civic agency informed that it has developed a software application for issuing Health Trade Licenses and for accepting conversion, parking, and registration charges. However, it clarified that the use of any premises for commercial purposes is strictly regulated by the provisions of Master Plan-2021. Accordingly, a Health Trade License can only be issued for activities that are permissible under the plan.
Express Tribune
13-03-2025
- Business
- Express Tribune
OMCs see 39% YoY profit surge
Listen to article Pakistan's Oil Marketing Companies (OMC) sector recorded a 39% year-on-year (YoY) increase in earnings, reaching Rs18.2 billion in the first half of fiscal year 2025 (1HFY25), compared to Rs13.2 billion in the same period last year. This growth was driven by a reduction in finance costs and lower effective taxation. However, sector sales declined by 11% YoY to Rs2.1 trillion, largely due to a drop in motor spirit (MS), commonly known as petrol, and high-speed diesel (HSD), also known as diesel, retail prices by 10% and 9% YoY, respectively. Despite the revenue dip, OMC sales volumes grew by 4% YoY, with notable increases in MS (+5%) and HSD (+10%) dispatches. In terms of individual company performance, Pakistan State Oil (PSO)'s earnings tripled YoY, while Attock Petroleum Limited (APL) and WAFI (formerly Shell Pakistan Limited) saw a decline in profitability. Hi-Tech Lubricants Limited (HTL) reduced its losses significantly, supported by strong lubricant and petroleum sales growth. Looking ahead, the government is expected to revise OMC margins, potentially boosting sector earnings. Additionally, falling international petroleum prices and improving macroeconomic conditions are likely to sustain demand in the coming months. "The OMC sector recorded a 39% YoY surge in earnings during 1HFY25, reaching Rs18.2 billion compared to Rs13.2 billion in SPLY," reported Muhammad Iqbal Jawaid and Menka Kirpalani of AHL in a research report. The OMC sector recorded a 39% YoY increase in earnings during 1HFY25, reaching Rs18.2 billion compared to Rs13.2 billion in the same period last year. However, sector sales declined by 11% YoY to Rs2.1 trillion due to a reduction in fuel prices, but OMC sales volumes increased, said the report. HTL's lubricant segment exhibited strong growth, increasing by 41% YoY in 1HFY25. Meanwhile, PSO's re-gasified liquefied natural gas (RLNG) revenue grew 5% YoY, supported by an 11% YoY rise in cargo handling (55 cargoes versus 49 in the same period last year). The sector's gross margins declined slightly to 3.4% in 1HFY25 from 3.5% in SPLY, mainly due to inventory losses resulting from lower ex-refinery prices. However, the finance cost of the sector dropped by 22% YoY, driven by lower interest rates and a reduction in short-term borrowings by PSO and HTL. The sector also benefited from a lower effective tax rate of 53% in 1HFY25 compared to 67% in 1HFY24. In terms of market share, PSO's share in petroleum sales shrank to 41% in February 2025 (from 51% in February 2024), while its 8MFY25 market share stood at 45%. Meanwhile, Gas and Oil Pakistan Limited's share increased to 13% in February 2025, up from 3% in February 2024, reflecting an expanding footprint in the sector. Among individual company performances, PSO's earnings tripled YoY, settling at Rs23.81 per share in 1HFY25, mainly due to lower finance costs and reduced short-term borrowings. However, its total petroleum sales declined by 4% YoY, with MS, HSD, and furnace oil (FO) sales falling by 5%, 5%, and 29% YoY, respectively. APL's profitability dropped by 34% YoY, with its earnings reaching Rs41.18 per share, as its petroleum sales declined by 15% YoY due to a 2% and 60% YoY reduction in MS and FO dispatches, respectively. Additionally, APL's finance costs increased by 29% YoY due to higher unwinding of lease liabilities. WAFI reported profitability of Rs9.25 per share in 1HFY25, a 51% YoY decline, despite a 4% and 2% YoY increase in MS and HSD dispatches, respectively. The company's other income grew by 35% YoY, supported by higher cash balances, but a taxation charge of Rs1.7 billion (compared to a tax reversal of Rs1.1 billion in SPLY) impacted its bottom line. Meanwhile, HTL reduced its losses, reporting a loss of Rs0.3 per share in 1HFY25, compared to a loss of Rs2.5 per share in SPLY. The company's revenues surged by 74% YoY, driven by growth in its lubricant and petroleum product portfolio, while localised blending of raw materials improved its operating profits. Looking ahead, international petroleum prices are expected to decline further, which could lead to lower domestic fuel prices in the coming quarters. Additionally, PSO's trade debt from Sui Northern Gas Pipelines Limited (SNGPL) stood at Rs262 billion in December 2024, down from Rs275 billion in September 2024, as the government explores measures to resolve the circular debt issue. The government is also expected to revise OMC margins, which could boost sector earnings. Moreover, improving macroeconomic conditions and rising consumer car financing are likely to drive higher demand for petroleum products, while further declines in MS and HSD prices could sustain market momentum in the near future.
Associated Press
06-02-2025
- Business
- Associated Press
Raadr (Doing Business as Telvantis) Positions for National Exchange Uplisting With Strategic Engagement of PCAOB Audit Firm HTL International, LLC
NEWMEDIAWIRE) - Raadr Inc., now doing business as Telvantis (OTC PINK: RDAR) ('Telvantis' or the 'Company'), a rapidly expanding U.S.-based global telecommunications provider, today announced a significant step towards uplisting to a national exchange, such as the Nasdaq or NYSE, by engaging HTL International, LLC (HTL), a PCAOB-registered, full-service accounting firm. This strategic move underscores Telvantis' commitment to the highest standards of financial reporting, transparency, and corporate governance. HTL: a proven partner for growth-oriented companies Telvantis selected HTL for their extensive experience and proven track record in serving both public and private companies across a wide range of industries, including expertise in guiding companies through the uplisting process. Companies that successfully complete a PCAOB audit and meet other listing requirements see an average increase in institutional investment of approximately 20% post-uplisting. (Source: Journal of Financial Economics, 2023). Headquartered in Houston, Texas, HTL has a global presence with offices in Austin, Fuzhou, Shanghai, Taipei, and Vancouver. The firm is renowned for its team of multilingual, solution-oriented professionals who bring deep subject matter expertise in U.S., Canadian, and international financial reporting standards (IFRS). Strengthening financial reporting, governance, and investor confidence The engagement of HTL further strengthens Telvantis' commitment to financial integrity and best practices. By undertaking this rigorous independent audit, Telvantis aims to enhance investor confidence, attract a broader base of institutional investors, and increase its visibility within the investment community. 'We are pleased to partner with HTL, a firm with a strong reputation for excellence and a deep understanding of the complexities of U.S. and international financial reporting,' said Daniel Gilcher, CFO of the Company. 'Their expertise will be invaluable as we prepare for an uplisting to a national exchange and continue to execute our strategic growth plan. This audit demonstrates our unwavering commitment to transparency and accountability to all our stakeholders.' Uplisting strategy: a key component of Telvantis' long-term growth plan The PCAOB audit conducted by HTL is a cornerstone of Telvantis' comprehensive strategy to unlock its full potential and deliver enhanced shareholder value. This initiative is aligned with other key strategic initiatives, including: The upcoming release of the company's 5-year strategic growth plan: this plan will detail Telvantis' roadmap for capitalizing on emerging opportunities in the 5G, cloud communications, and enterprise services markets. The launch of its Shareholder Ambassador Program: designed to foster a strong and engaged shareholder community, this program will provide investors with exclusive insights and opportunities to connect with the company's leadership. The recent strategic acquisition of Mexedia SpA's U.S. and Irish operations: this acquisition significantly expanded Telvantis' technological capabilities and market reach, positioning the company for accelerated growth in key markets. These initiatives, combined with the successful completion of the PCAOB audit, will position Telvantis as a leading innovator in the evolving telecommunications landscape and an attractive opportunity for investors. Audit timeline, reporting, and upcoming milestones Telvantis anticipates the PCAOB audit process, conducted by HTL, to be completed by Q2 2025. Upon completion, the company will release the audited financial results and issue a comprehensive press release to further inform investors and stakeholders. Concurrently, Telvantis will provide material updates on its 5-year growth plan, including key performance indicators and strategic objectives. About Telvantis: a future-focused telecom leader delivering innovation and value Raadr Inc. now doing business as Telvantis (OTC: RDAR) is a U.S.-based telecommunications company delivering innovative solutions to operators, enterprises, and network providers worldwide. The recent acquisition of Mexedia SpA's U.S. and Ireland operations has significantly expanded Telvantis' portfolio, adding cutting-edge 5G technologies, cloud-based communications platforms, and enterprise-grade services. This strategic expansion, coupled with a commitment to research and development, positions Telvantis to capitalize on the growing global demand for advanced communication solutions. Telvantis is committed to driving innovation, delivering exceptional value to its customers, and generating sustainable returns for its shareholders. Forward-looking statements This press release contains forward-looking statements that involve risks and uncertainties. These statements are based on management's current expectations and projections about future events and are subject to various factors that could cause actual results to differ materially from those expressed or implied in such statements. These factors include, but are not limited to: market conditions, competitive pressures, the successful integration of acquired operations, the ability to execute the company's strategic plan, and other risks and uncertainties detailed in the company's filings with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
