NRL’s bottom-line expands by 5x in FY22

By MG News | August 16, 2022 at 01:56 PM GMT+05:00

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August 16, 2022 (MLN): National Refinery Limited (PRL) has reported splendid growth of 5.12x YoY in its net profit to clock in at Rs9.8 billion (EPS: Rs113.53) for the fiscal year ended on June 30, 2022, compared to Rs1.77bn (EPS: Rs22.14) in FY21, the company filing on PSX showed today.

In conjunction with the results, the company also announced a final cash dividend for the year ended on June 30, 2022, at Rs15 per share i.e, 150%.

During the review period, the topline of the company surged to Rs251.88bn in FY22, up by 80.39%, compared to Rs139.625bn in FY21.

With regards to major expense heads, the company encountered a 6.2x YoY higher operating expenses which stood at Rs822.31 million while the company witnessed a 6% YoY and 57% YoY rise in its administrative and distribution expenses, respectively.

Similarly, the finance cost of the company also surged to Rs9bn in FY22 compared to Rs940.38mn.

On the taxation side, the company paid Rs2.73bn during the review period, compared to Rs369mn in SPLY.

Profit and Loss Account for the year ended June 30, 2022 ('000 Rupees)
	Jun-22	Jun-21	% Change
Revenue from contracts with customers	285,238,526	196,579,545	45.10%
Trade discounts, taxes, duties, levies, and price differentials	-33,362,798	-56,954,347	-41.42%
Net revenue from contracts with customers	251,875,728	139,625,198	80.39%
Cost of sales	-228,080,832	-135,700,345	68.08%
Gross profit	23,794,896	3,924,853	506.26%
Distribution cost	-1,459,169	-925,628	57.64%
Administrative expenses	-948,703	-897,751	5.68%
Other income	313,534	370,388	-15.35%
Other operating expenses	-822,315	-131,265	526.45%
Operating profit	20,878,243	2,340,597	792.01%
Finance cost	-9,067,973	-940,388	864.28%
Profit before taxation	11,810,270	1,400,209	743.46%
Taxation	-2,731,257	369,891	-838.40%
Profit after taxation	9,079,013	1,770,100	412.91%
Earning per share - basic and diluted (rupees)	113.53	22.14	412.78%

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