NRL profit surges 11-fold to Rs11.6bn in 1QFY27

October 19, 2026 (MLN): Profit after taxation of National Refinery Limited (PSX: NRL) rose more than 11-fold to Rs11.57bn for the quarter ended September 30, 2026 (1QFY27), compared with Rs1.03bn in the same period last year.

Basic and diluted earnings per share (EPS) climbed to Rs144.68 from Rs12.82 in 1QFY26.

The surge came from a near doubling of net revenue and a more than five-fold jump in gross profit. Higher operating expenses, a sharp rise in other operating expenses and a heavier tax charge only partly offset the gains.

Gross revenue from contracts with customers rose 80.80% to Rs202.26bn from Rs111.87bn. After trade discounts, taxes, duties, levies and price differentials, which grew 54.65% to Rs49.95bn from Rs32.30bn, net revenue increased 91.41% to Rs152.31bn from Rs79.57bn.

Cost of sales rose 72.69% to Rs130.31bn from Rs75.46bn, slower than revenue, which lifted gross profit more than five-fold to Rs22.00bn from Rs4.11bn.

Distribution costs rose nearly four-fold to Rs538.93m from Rs136.20m, while administrative expenses edged up 4.73% to Rs347.07m from Rs331.39m. Other operating expenses jumped more than 14-fold to Rs1.33bn from Rs94.90m. Other income more than doubled to Rs195.04m from Rs90.68m.

As a result, operating profit rose more than five-fold to Rs19.97bn from Rs3.64bn.

Finance cost (net) declined 7.33% to Rs1.64bn from Rs1.77bn, providing modest relief.

Profit before taxation and levies climbed nearly ten-fold to Rs18.33bn from Rs1.87bn. The company booked no levies, against Rs54.33m in 1QFY26, taking profit before taxation up more than ten-fold to Rs18.33bn from Rs1.81bn.

Taxation rose more than eight-fold to Rs6.76bn from Rs789.11m, which absorbed part of the gains and left profit after taxation at Rs11.57bn.

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