PRL posts nearly Rs5bn loss in FY25

August 18, 2025 (MLN): Pakistan Refinery Limited (PRL) has reported a loss of Rs4.66 billion for the year ending June 30, 2025, compared to a profit of Rs4.06bn in the previous year.

This marks a significant reversal in profitability despite slightly higher revenues, mainly due to rising costs and lower margins, according to the company’s audited financial results.

The company’s revenue from contracts with customers stood at Rs310.35bn, up 1.6% from Rs305.54bn recorded in FY2024.

However, cost of sales grew by 6.2% to Rs308.49bn from Rs290.45bn, which led to a steep decline in profitability. Consequently, gross profit fell by 87.7% to Rs1.86bn from Rs15.09bn in the prior year.

Operational costs continued to weigh on the company’s performance. Selling expenses rose 18.5% to Rs792.7million, while administrative expenses increased 10.5% to Rs1.39bn.

Other operating expenses, however, decreased sharply by 62.3% to Rs2.55bn, while other income dropped 39.1% to Rs2.70bn.

As a result, the company posted an operating loss of Rs176.6m, in contrast to an operating profit of Rs10.83bn a year earlier.

Finance costs remained broadly stable at Rs3.79bn. The share of income from associate declined significantly, falling 96% to just Rs0.79m compared to Rs19.5m in FY2024.

Overall, the company recorded a loss before taxation of Rs3.96bn, compared with a profit of Rs7.07bn in the prior year.

The final tax and minimum tax surged to Rs1.83bn, up 413.3% from Rs356m previously.

After accounting for taxation, PRL reported a net loss of Rs4.66bn against a profit of Rs4.06bn last year.

On the balance sheet side, the company recognized a revaluation surplus on property, plant and equipment amounting to Rs2.90bn, which partly cushioned the bottom-line impact.

The total comprehensive loss for the year stood at Rs1.71bn, compared with a comprehensive profit of Rs4.21bn in FY2024.

Earnings per share also reflected this downturn, with a basic and diluted loss of Rs7.4 per share, compared to earnings of Rs6.45 per share last year, representing a deterioration of 14.7%.

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