Avanceon Limited, listed on the Pakistan Stock Exchange (PSX) with the symbol AVN, has posted a revenue of Rs4.6 billion for the nine months of 2022, up from Rs3.5 billion for the corresponding period of last year. The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
State Bank’s LC approvals cast a shadow on Avanceon’s earnings
The publicly listed company’s PKR revenues grow to Rs4.6bn for 9-months of 2022 from Rs3.5 billion last year, but on the back of massive exchange rate gain of Rs1.64bn
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