ATRL turns to profit

News Image

By MG News | April 22, 2022 at 09:36 AM GMT+05:00

0:00

April 22, 2022 (MLN): Attock Refinery Limited (PSX: ATRL) has announced its financial results for the 9MFY22 whereby it has witnessed a large positive swing in its consolidated net profits worth Rs5.21 billion (EPS: Rs48.83) against a huge loss of Rs90.79mn (LPS: Rs0.85) recorded in the same period of preceding fiscal year.

The profitability of the company is largely attributable to net sales and share of profits from its associated companies.

Going by the financial result sent to PSX, the net sales of the company increased by 86.4% YoY, while its cost of sales also surged by 78% YoY, as a result of this, the gross profit of the company clocked in at Rs4.78bn in 9MFY22.

On the expense front, the company witnessed an upsurge of 9.6% YoY and 57.2% YoY in its administrative and distribution cost, respectively.  Meanwhile, the other charges of the company ballooned to Rs310mn.

The other major positive highlight was impairment reversal on financial assets of Rs290mn coupled with a more than two-fold increase in the share of the profit earned by associated companies to Rs2.34bn during 9MFY22.

On the other hand, the financial cost of the company stood at Rs1.21bn during 9MFY22, depicting an increase of 92% YoY, mainly on the back of a higher interest rate regime which has somewhat offset the impact of sales revenue.

Among other line items, the other income of the company observed a decline of 9%YoY to R1.22bn.

The company booked a tax expense of Rs1.18bn during 9MFY22 against a tax reversal of Rs439mn in 9MFY21.

Consolidated profit and loss account for the nine months ended March 31st, 2022 ('000 Rupees)

 

Mar-22

Mar-21

% Change

Gross sales

 199,441,351

 141,742,417

40.71%

Taxes, duties, levies and price differential

 (32,964,326)

 (52,411,500)

-37.10%

Net sales

 166,477,025

 89,330,917

86.36%

Cost of sales

 (161,696,429)

 (90,807,928)

78.06%

Gross profit/(loss)

 4,780,596

 (1,477,011)

-

Administrative expenses

 (672,889)

 (614,120)

9.57%

Distribution cost

 (52,403)

 (33,345)

57.15%

Other charges

 (310,388)

 (707)

43802.12%

Other income

 1,222,927

 1,344,398

-9.04%

Impairment reversal/(loss) on financial assets

 289,836

 (131,210)

-

Operating profit/(loss)

 5,257,679

 (911,995)

-

Finance cost

 (1,210,305)

 (630,746)

91.88%

Profit/(Loss) before taxation from refinery operations

 4,047,374

 (1,542,741)

-362.35%

Taxation

 (1,178,140)

 438,565

-

Profit/ (Loss) after taxation from refinery operations

 2,869,234

 (1,104,176)

-359.85%

Share in profit of associated companies

 2,336,963

 1,013,391

130.61%

Profit/ (Loss) after taxation for the period

 5,206,197

 (90,785)

-

Earnings/ (Loss) per share - basic and diluted (rupees):

 

 

 

Refinery operations

 26.91

 (10.36)

-

Non-refinery operations

 21.92

 9.51

130.49%

 

 48.83

 (0.85)

-

 

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 130,344.03
345.79M
1.67%
2144.61
ALLSHR 81,023.99
1,021.87M
1.55%
1236.37
KSE30 39,908.26
141.62M
2.05%
803.27
KMI30 189,535.00
150.29M
1.40%
2619.39
KMIALLSHR 54,783.66
508.76M
1.07%
581.78
BKTi 34,940.73
55.86M
4.37%
1464.05
OGTi 28,296.06
16.02M
1.19%
333.47
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,295.00 108,430.00
105,440.00
2545.00
2.41%
BRENT CRUDE 67.67 68.10
66.94
0.56
0.83%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 109.20 110.00
108.25
1.70
1.58%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 65.98 66.43
65.23
0.53
0.81%
SUGAR #11 WORLD 15.53 15.97
15.52
-0.17
-1.08%

Chart of the Day


Latest News
July 02, 2025 at 05:29 PM GMT+05:00

CDNS revises profit rates on savings schemes


July 02, 2025 at 05:05 PM GMT+05:00

PSX in FY25: From Oof to Boom


July 02, 2025 at 05:01 PM GMT+05:00

Gold price in Pakistan falls Rs600 per tola


July 02, 2025 at 04:35 PM GMT+05:00

Oil gains slightly as market eyes Iran, OPEC+ moves


July 02, 2025 at 04:02 PM GMT+05:00

PSX Closing Bell: Record Breaker



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg