Latest news with #Rs178
Hans India
05-08-2025
- Business
- Hans India
Standard Glass Lining reports 38% jump in profit
New Delhi: Standard Glass Lining Technology Ltd has reported strong financial results for the first quarter of FY26, driven by healthy revenue growth, improved margins, and strategic global expansion. Nageswara Rao Kandula, Managing Director of SGLTL, said: 'We are pleased with our continued healthy performance this quarter, which reflects our unwavering commitment to our customers, investors, and all stakeholders. Improved execution has enabled us to deliver solid margins while expanding our global footprint. Our focus on innovation and product diversification is beginning to bear fruit in customer appreciation and market acceptance.' The company posted a total income of Rs178 crore, up 23.6 per cent year-on-year (YoY). EBITDA grew by 31.9 per cent YoY to Rs35 crore, with an EBITDA margin of 19.5 per cent. Profit After Tax (PAT) came in at Rs21 crore, marking a 37.6 per cent YoY increase, while Profit Before Tax (PBT) reached Rs28 crore, up 39.6 per cent YoY. The PAT margin stood at 11.9 per cent. During the quarter, the company entered into a long-term agency agreement with Singapore-based BioCon Solutions Pte Ltd. This agreement will facilitate the export of SGLTL's manufactured products to customers across Singapore, Indonesia, Malaysia, and Thailand, significantly strengthening its presence in Southeast Asia. The partnership leverages SGLTL's manufacturing expertise and BioCon's established distribution network. In a further push towards international expansion, SGLTL has also incorporated a wholly owned subsidiary, Standard Engineering Inc., in South Carolina, USA. This entity will serve the Industrial Products and Process Equipment segment and aims to enhance customer proximity and supply chain responsiveness across the North American market.
Business Recorder
08-07-2025
- Business
- Business Recorder
FBR, IB recovers Rs178bn in crackdown on evaders since April 2022
ISLAMABAD: The Federal Board of Revenue (FBR) and the Intelligence Bureau (IB) on Monday claimed to have recovered a hefty Rs178 billion in a high-octane crackdown targeting tax evaders and hoarders since April 2022. This was revealed in a report presented to Prime Minister Shehbaz Sharif by the top tax-collecting agency, the FBR, and the IB, a civilian spy agency, detailing recoveries. A statement issued by the Prime Minister's Office said that since April 2022, more than 13,000 raids have targeted key sectors notorious for illegal stockpiling, including sugar, fertiliser, and wheat. These raids unearthed goods worth over Rs99 billion that had been hidden from the market, striking a blow to black-market profiteers, it added. In a dramatic push, an additional 515 raids targeted industries such as beverages, edible oil, tobacco, cement, and animal feed – sectors often accused of skirting tax obligations. The crackdown led to an increase of Rs69 billion in tax revenue through merger of companies and recovery of outstanding dues in the lucrative telecommunications sector. Another Rs10.5 billion was collected by nipping tax evasion attempts in the bud. Prime Minister Shehbaz Sharif praised the joint FBR-IB operations, calling their teamwork 'crucial' to strengthening Pakistan's fragile economic base. He warned that without continued cooperation among government agencies, the country's economic stability and citizens' welfare could be at risk. 'Pakistan's future depends on institutions working shoulder to shoulder,' Sharif said, urging all arms of the government to maintain pressure for sustained growth and improved living standards. Copyright Business Recorder, 2025
Business Recorder
01-07-2025
- Business
- Business Recorder
FBR misses revised target by Rs178bn in FY25
ISLAMABAD: The Federal Board of Revenue (FBR) has provisionally collected Rs 11,722 billion during July-June (2024-25) against the downward revised target of Rs 11,900 billion, reflecting a shortfall of Rs178 billion. The FBR has also missed the tax collection target of Rs 1667 billion set for June 2025. The government had downward revised the FBR's annual tax collection target from Rs 12,913 billion to Rs 12,334 billion for 2024-25. The tax collection target was further reduced to Rs 11,900 billion for the last fiscal year (2024-25). Despite taxation measures amounting to Rs. 1.8 trillion for 2024-25, this revised target of Rs 11,900 billion was also not met by the end of June 30, 2025. FBR misses May target by Rs206bn Till Monday (June 30) evening, the FBR's tax collection stood at Rs11,706 billion for 2024-25. The amount increased to Rs 11,722 billion till 10pm Monday night for the period of July-June (2024-25). A significant shortfall in tax collection has been reported in the FBR's tax collection figures. In the past, the shortfall was increased from Rs 703 billion during July-March (2024-25) to Rs 821 billion during July-April (2024-25). The shortfall was further increased to Rs 1027 billion during July-May (2024-25) period. Tax machinery faced an impossible task to collect Rs 1667 billion during last month of 2025-25 i.e. June 2025. The FBR failed to achieve the revised tax collection target of Rs 1667 billion during June 2025. Copyright Business Recorder, 2025
