ATRL’s earnings fell to Rs6.89bn, announces 50% DPS in 1HFY25

January 27, 2025 (MLN): Attock Refinery Limited (PSX: ATRL) has recorded a substantial decrease in its earnings for 1HFY25, wherein the profit after tax clocked in at Rs6.89 billion [EPS: Rs64.65] compared to a profit of Rs16.41bn [EPS: Rs153.96] in the same period last year (SPLY).

Along with the financial results for 1HFY25, the Board of Directors (BoD) of ATRL has declared an interim cash dividend of Rs5/- per share i.e., 50% for the review period.

Analyzing the results, the company's top line declined by 18.56% YoY to Rs220.07bn as compared to Rs270.21bn in SPLY.

The taxes, duties, levies, and price differential towards sales were recorded at Rs59.31bn, down by 7.81% YoY.

After subtracting these costs, the net revenue of the company stood at Rs160.76bn, in comparison to the net sales of Rs205.88bn recorded in 1HFY24.

The cost of sales declined by 15.55% YoY, which resulted in a significant decline in gross profit by 78.16% YoY to Rs4.56bn in 1HFY24.

On the expense side, the company observed a rise in Distribution cost by 13.48% YoY and other expenses declined by 59.56% YoY to clock in at Rs48.3m and Rs778.77m, respectively, during the review period.

Likewise, the ATRL's administrative expenses increased by 23.10% YoY to Rs818.87m during the review period.

The company's profitability was supported by a marginal increase in other income, which was recorded at Rs7.51bn in 1HFY25.

The financial results further showed that ATRL reported an impairment loss on financial assets of Rs4.73m, reflecting a decrease of 80.65% compared to Rs24.43m in 1HFY24.

ATRL reported a net finance cost of Rs209.78m, as in the SPLY, the company had recorded a net finance income of Rs85.53m.

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