Latest news with #Rs9.21
Business Recorder
29-05-2025
- Business
- Business Recorder
Dost Steels secures Rs2.08bn investment
Dost Steels, in a move to stabilise its financial position, has entered into a restructuring agreement with a consortium of banks, backed by a substantial investment commitment from Muhabbat Khan and Zahir Khan. The two investors have pledged a total of Rs2.08 billion and extended personal guarantees for the repayment of the company's outstanding bank loans, the listed company disclosed in its filing to the Pakistan Stock Exchange (PSX) on Thursday. 'Muhabbat Khan and Zahir Khan who have agreed to make an investment of Rs2.08 billion in the company and who have given personal guarantees to banks for repayment of bank loans on which basis the company has signed a restructuring agreement with banks whereby Rs2.08 billion will be paid by the company in sixteen quarterly instalments to the consortium of banks,' read the notice. Dost Steels Limited fails to resume operations amid financial challenges The company said that as part of the restructuring agreement with banks, Muhabbat Khan has paid an amount of Rs50 million as a down payment to the consortium of banks. Following the development, the share price of Dost Steels Limited increased to Rs9.21, up by Re0.07 or 0.77%. As per the company's latest financial results, the company incurred a loss of Rs242 million in FY24. Dost Steels Limited was incorporated in Pakistan on March 19, 2004, as a private limited company under the Companies Ordinance, 1984 now the Companies Act, 2017. The principal business of the company includes manufacturing steel, direct reduced iron, sponge iron, hot briquetted iron, carbon steel, pig iron and special alloy steel in different forms, shapes and sizes that can be manufactured within the existing facilities.
Business Recorder
21-05-2025
- Business
- Business Recorder
Pakistan's power generation increases 22% in April
Power generation in Pakistan clocked in at 10,513 GWh in April 2025, an increase of over 22% YoY compared to the same period of the previous year, suggesting an uptick in economic activity. Back in April 2024, power generation stood at 8,639 GWh. 'The 22% increase in power generation, on a yearly basis, is the highest in 48 months,' Rao Aamir, energy analyst at Arif Habib Limited (AHL), told Business Recorder. The surge in energy consumption is attributed to an increased demand, driven by a reduction in tariffs, the analyst said. Net-metering buyback: Does govt want to dim Pakistan's solar glow? On a monthly basis, power generation surged by 25% as compared to 8,409 GWh in March. Despite the increase, generation remained in line with the reference level. However, in the first 10 months of FY25 (July-April), power generation fell by 0.4% YoY to 100,661 GWh compared to 101,088 GWh in the SPLY. 'Power generation is expected to increase in the coming months, due to a demand surge on account of summer months and an uptick in economic activity,' said Aamir. On the other hand, the total cost of generating electricity in Pakistan increased by 8%, clocking in at Rs9.92 KWh in April 2025 compared to Rs9.21 KWh registered in the same period of the previous year. The increase in cost is attributed to the rise in power generation cost from RLNG, which increased to Rs24.26 KWh, a gain of 10%, compared to Rs22.13 KWh in SPLY. In April, hydel emerged as the leading source of power generation, accounting for 21.9% of the generation mix, to become the largest source of electricity generation. This was followed by RLNG, which accounted for 20.5% of the overall generation, ahead of nuclear, which accounted for 17.9% of the power generation share. Among renewables, wind and solar generation amounted to 4.6% and 1.1%, respectively, of the generation mix.
