Attock Refinery profit falls sharply in FY25

MG News | August 11, 2025 at 12:55 PM GMT+05:00

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August 11, 2025 (MLN): Attock Refinery Limited (PSX: ATRL) has posted a sharp decline in earnings for FY25, with profit after tax standing at Rs8.95 billion [EPS: Rs83.93], compared to Rs25.05bn [EPS: Rs234.96] in the same period last year (SPLY), reflecting a decrease of 64.28%.

The company declared a final cash dividend of Rs5 per share (50%), in addition to an interim dividend of Rs5 per share (50%), bringing the total payout to Rs10 per share (100%).

The company’s gross sales dropped 17.47% to Rs417.13bn from Rs505.45bn in SPLY.

Taxes, duties, levies, discount, and price differential amounted to Rs115.61bn, down 5.52% year-on-year (YoY), bringing net sales to Rs301.52bn, a decline of 21.29% YoY.

Cost of sales decreased 17.66% to Rs291.59bn, resulting in a 65.70% drop in gross profit to Rs9.93bn.

Administrative expenses rose 23.95% to Rs1.87bn, while distribution costs increased 10.93% to Rs114.47m.

Other charges fell 51.71% to Rs1.42bn, and other income dropped 18.65% to Rs12.24bn.

The company recorded a net impairment reversal on financial assets of Rs12.22m, down 77.68% from last year.

Operating profit fell 52.45% to Rs18.78bn, and finance cost stood at Rs526.21m compared to finance income of Rs175,000 in SPLY.

Profit before income tax and final tax from refinery operations and subsidiary fell 53.79% to Rs18.25bn, while final taxes rose 13.79% to Rs186.87m.

Profit before income tax from refinery operations and subsidiary decreased 54.07% to Rs18.07bn, with taxation declining 53.63% to Rs6.92bn.

As a result, profit for the year from refinery operations and subsidiary was Rs11.15bn, down 54.34% from Rs24.41bn in SPLY.

Non-refinery operations posted a profit of Rs2.14bn, up 43.93% from Rs1.49bn last year.

The company also recorded an impairment loss on investment in an associated company of Rs4.34bn, compared to Rs845.08m in SPLY, and a share in loss of associated companies of Rs2.20bn, versus a profit of Rs641.44m last year.

Consolidated Statement of Profit and Loss for the Year Ended June 30, 2025 (Rs ‘000’)
Category	Jun-25	Jun-24	%Change
Gross sales	417,133,384	505,445,812	-17.47%
Taxes, duties, levies, discount and price differential	(115,613,429)	(122,373,902)	-5.52%
Net sales	301,519,955	383,071,910	-21.29%
Cost of sales	(291,592,115)	(354,126,203)	-17.66%
Gross profit	9,927,840	28,945,707	-65.70%
Administration expenses	1,869,455	1,508,244	23.95%
Distribution costs	114,465	103,191	10.93%
Other charges	1,420,715	2,941,842	-51.71%
Other income	12,244,752	15,052,216	-18.65%
Net impairment reversal on financial assets	12,218	54,738	-77.68%
Operating profit	18,780,175	39,499,384	-52.45%
Finance (cost) / income	(526,206)	175
Profit before income tax and final tax from refinery operations and subsidiary	18,253,969	39,499,559	-53.79%
Final taxes - levy	(186,872)	(164,227)	13.79%
Profit before income tax from refinery operations and subsidiary	18,067,097	39,335,332	-54.07%
Taxation	(6,921,515)	(14,927,033)	-53.63%
Profit for the year from refinery operations and subsidiary	11,145,582	24,408,299	-54.34%
(Loss) / profit for the year from non-refinery operations	2,139,571	1,486,517	43.93%
Impairment (loss) / reversal on investment in an associated company	(4,336,686)	(845,078)	413.17%
Share in loss of associated companies	(2,197,115)	641,439
Profit for the year	8,948,467	25,049,738	-64.28%
Refinery operations and subsidiary	104.54	228.94	-54.34%
Non-refinery operations	(20.61)	6.02
	83.93	234.96	-64.28%

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