ATRL earns net profit worth Rs.66 million

MG News | October 15, 2019 at 05:43 PM GMT+05:00

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October 15, 2019 (MLN): Attock Refinery Limited (ATRL) has announced its financial earnings for the quarter ended on September 2019, wherein the company remarkably turned its losses into profits which stood at Rs. 66 million.

The company’s gross profit decreased by 61% due drop in sales by 18.62%. Moreover, the cost of sales deteriorated with the same proportionate of 19% YoY.

The net profits of the company increased due to the increase in other-income by 36.98% along with the drop in administrative expenses by 4.50%.

In addition, finance cost dropped by a substantial amount of Rs.1 billion, marking a decline of 52.5% from Rs.7.4 billion in corresponding period of last year.

Other than this, ATRL’s basic and diluted earnings per share have been reported at Rs.3.15 per share.

Consolidated profit and loss account for the quarter ended September 30th 2019 ('000 Rupees)
	Sep-19	Sep-18	% Change
Gross sales	48,868,644	57,911,542	-15.62%
Taxes, duties, levies and price differential	(12,673,026)	(13,433,842)	-5.66%
Net sales	36,195,618	44,477,700	-18.62%
Cost of sales	(36,429,788)	(45,079,834)	-19.19%
Gross profit/(loss)	(234,170)	(602,134)	-61.11%
Administrative expenses	(188,730)	(197,621)	-4.50%
Distribution cost	(13,049)	(12,080)	8.02%
Other charges	(8,242)	(283)	2812.37%
Other income	864,650	631,211	36.98%
Operating profit/(loss)	420,459	(180,907)
Finance cost	(353,541)	(744,276)	-52.50%
Profit/(loss) before taxation from refinery operations	66,918	(925,183)
Taxation	(50,488)	207,097
Profit/(loss) after taxation from refinery operations	16,430	(718,086)
Share in Profit of Associated companies	319,451	508,759	-37.21%
Profit/(loss) for the period	335,881	(209,327)
Earnings (loss) per share - basic and diluted (rupees):
Refinery operations	0.15	(6.74)
Non-refinery operations	3.00	4.77	-37.11%
	3.15	(1.97)

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