Latest news with #Rs8.3
Business Recorder
4 days ago
- Business
- Business Recorder
Karachi airport's main runway upgrade reaches 53%, says PAA
The Pakistan Airports Authority (PAA) on Wednesday announced that the upgradation of Runway 07L/25R at Jinnah International Airport (JIAP) has reached 53% completion by the end of May 2025, exceeding the planned target of 51%. 'The project, which began in July 2024, is progressing on schedule and is expected to be completed by January 2026,' PAA said in a statement. The authority informed that double shift operations are ongoing at the site 'to ensure timely delivery of this vital national infrastructure'. PAA shared that a key milestone was achieved with the arrival of the first shipment of imported Airfield Lighting (AFL) equipment at the project site. 'In preparation for the deployment of this advanced system, PAA engineers have successfully completed training abroad,' it said. 'Valued at Rs8.3 billion, the JIAP Runway Upgradation Project reflects the Authority's commitment to enhancing airport infrastructure across Pakistan,' it added. Once completed, the upgrade will allow Karachi Airport to achieve Category 4F status, making it capable of handling wide-body aircraft with higher operational requirements. This upgrade is expected to attract both domestic and international airlines to operate at JIAP in the future. Upon completion of the upgrade, it will feature the latest energy-efficient LED CAT-I Airfield Lighting System with runway centreline lights. The project also includes an extension of the runway by 1,000 feet, making it 11,500 feet. Reconstruction of taxiways and overruns at both ends, and asphaltic overlay of four taxi links near the 07L end.
Business Recorder
4 days ago
- Business
- Business Recorder
Karachi Airport's main runway upgrade reaches 53%, says PCAA
The Pakistan Civil Aviation Authority (PCAA) on Wednesday announced that the upgradation of Runway 07L/25R at Jinnah International Airport (JIAP) has reached 53% completion by the end of May 2025, exceeding the planned target of 51%. 'The project, which began in July 2024, is progressing on schedule and is expected to be completed by January 2026,' PCAA said in a statement. The authority informed that double shift operations are ongoing at the site 'to ensure timely delivery of this vital national infrastructure'. PCAA shared that a key milestone was achieved with the arrival of the first shipment of imported Airfield Lighting (AFL) equipment at the project site. 'In preparation for the deployment of this advanced system, PAA engineers have successfully completed training abroad,' it said. 'Valued at Rs8.3 billion, the JIAP Runway Upgradation Project reflects the Authority's commitment to enhancing airport infrastructure across Pakistan,' it added. Once completed, the upgrade will allow Karachi Airport to achieve Category 4F status, making it capable of handling wide-body aircraft with higher operational requirements. This upgrade is expected to attract both domestic and international airlines to operate at JIAP in the future. Upon completion of the upgrade, it will feature the latest energy-efficient LED CAT-I Airfield Lighting System with runway centreline lights. The project also includes an extension of the runway by 1,000 feet, making it 11,500 feet. Reconstruction of taxiways and overruns at both ends, and asphaltic overlay of four taxi links near the 07L end.
Business Recorder
13-05-2025
- Business
- Business Recorder
Complete turnaround: SSGC reports Rs8.3bn profit in FY24
The Sui Southern Gas Company (SSGC) made public its accounts for the year ended June 30, 2024, announcing a massive consolidated profit of Rs8.3 billion during the period. The profit is a complete turnaround from a loss of Rs836 million incurred by SSGC in the same period of the preceding year, according to a notice sent to the Pakistan Stock Exchange (PSX) on Tuesday. The company's earnings per share (EPS) were recorded at Rs9.41 in the 12 months compared to a loss per share (LPS) of Re0.95 in the same period of the previous fiscal year. The profit was driven by a massive gain made by the utility on account of other income. SSGC's net sales (after tariff adjustments) rose to Rs465.8 billion in July-June 2024 compared to Rs451.5 billion in the same period the previous year, an increase of over 3%. Complete turnaround: SSGC reports Rs4.5bn profit in July-Sept quarter On the other hand, the company's cost of sales increased to Rs455.5 billion, a jump of nearly 8%. Resultantly, the company, which is involved in the transmission and distribution of natural gas in Sindh and Balochistan, posted a gross profit of Rs10.4 billion, a decrease of over 63% as compared to a gross profit of Rs28.2 billion in SPLY. On a consolidated basis, the company saw its other expenses stand at Rs32.2 billion compared to Rs43.2 billion, a decline of nearly 26%. On the other hand, SSGC's other income rose to Rs46.97 billion, compared to Rs23.28 billion in SPLY, up over 101%. Consequently, SSGC's profit before finance cost and taxation clocked in at Rs25.1 billion in FY24, as compared to an operating profit of Rs8.2 billion in SPLY, an increase of 206%. The cost of finance increased to Rs13.4 billion in the period ended July 30, 2024, compared to Rs8.6 billion in SPLY, a jump of over 55%. During the period SSGC paid only Rs2.4 billion in taxes.
