NRL reports lower annual loss for FY25

MG News | August 11, 2025 at 10:34 AM GMT+05:00

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August 11, 2024 (MLN): National Refinery Limited (PSX: NRL) has reported a loss after tax of Rs14.87 billion [LPS: Rs185.91] for the year ended June 30, 2025, down by 5.85% YoY compared to the Rs15.79bn [LPS: Rs197.46] loss recorded in the Same Period Last Year (SPLY).

During the year, the company’s revenue from contracts with customers increased by 2.81% YoY to Rs408.07bn as compared to Rs396.93bn in FY2024.

The net revenue calculation includes the payment of Rs100.41bn in trade discounts, taxes, duties, levies, and price differentials, showing a YoY increase of 13.99%.

As a result, the net revenue from contracts with customers stood at Rs307.66bn in FY2025, marginally lower by 0.38% YoY compared to Rs308.84bn in FY2024.

Cost of sales decreased by 0.86% YoY to Rs313.9bn, resulting in a gross loss of Rs6.23bn, down 19.74% YoY from Rs7.77bn last year.

On the expense side, distribution cost increased by 37.24% YoY to Rs891.01 million, while administrative expenses fell by 5.33% YoY to Rs1.12bn during the review period.

Other income increased by 61.82% YoY to Rs562.15m, whereas other operating expenses decreased by 83.45% YoY to Rs15.8m.

Operating loss reduced by 17.65% YoY to Rs7.7bn in FY2025.

Meanwhile, finance cost – net increased by 10.97% YoY to Rs10.33bn, leading to a loss before taxation and levies of Rs18.03bn, down 3.37% YoY. Levies surged by 84.58% YoY to Rs414.24m.

Consequently, the loss before taxation amounted to Rs18.44bn, down 2.32% YoY, while taxation increased by 15.69% YoY to Rs3.57bn in FY2025.

Statement of Profit and Loss for the Year Ended June 30, 2025 (Rs ‘000’)
Note	Jun-25	Jun-24	%Change
Revenue from contracts with customers	408,074,583	396,927,746	2.81%
Trade discounts, taxes, duties, levies and price differentials	(100,411,730)	(88,085,918)	13.99%
Net revenue from contracts with customers	307,662,853	308,841,828	-0.38%
Cost of sales	(313,897,084)	(316,609,825)	-0.86%
Gross loss	(6,234,231)	(7,767,997)	-19.74%
Distribution cost	(891,012)	(649,259)	37.24%
Administrative expenses	(1,117,601)	(1,180,566)	-5.33%
Other income	562,152	347,398	61.82%
Other operating expenses	(15,797)	(95,470)	-83.45%
Operating loss	(7,696,489)	(9,345,894)	-17.65%
Finance cost - net	(10,331,167)	(9,310,053)	10.97%
Loss before taxation and levies	(18,027,656)	(18,655,947)	-3.37%
Levies	(414,235)	(224,418)	84.58%
Loss before taxation	(18,441,891)	(18,880,365)	-2.32%
Taxation	3,574,969	3,090,150	15.69%
Loss after taxation	(14,866,922)	(15,790,215)	-5.85%
Loss per share - basic and diluted	(185.91)	(197.46)	-5.85%

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