PSX increases by more than 350 points as global oil prices decline

KARACHI: Pakistan Stock Exchange (PSX) released its performance report for the first nine months of the fiscal year 2021-22 on Friday.

The PSX businesses earned a record profit of Rs822 billion in the first nine months of the current fiscal year, according to the report. Earned profit grew by 23% over the previous fiscal year.

The firms earned a profit of Rs320 billion in the first three months of the fiscal year, according to the study (January-March)

Profitability increased 33.7 percent as compared to the same quarter last year.

Meanwhile, the State Bank of Pakistan’s (SBP) foreign currency reserves fell by $328 million to $10.558 billion in the week ended April 23, according to numbers released by the central bank on Thursday.

As of April 23, the country’s total foreign reserves were at $16.668 billion, including net reserves held by commercial banks.

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