Attock Petroleum declares Rs12.5 DPS as profit surges to Rs5.12bn in 1HFY25

January 27, 2025 (MLN): Attock Petroleum Limited (PSX: APL) has revealed its financial results for 1HFY25, wherein the profit after tax clocked in at Rs5.12 billion [EPS: Rs41.18] compared to a profit of Rs7.8bn [EPS: Rs62.69] in the same period last year (SPLY).

Considering the decline in the company's earnings, the Board of Directors (BoD) has declared an interim cash dividend for the six months ended December 31, 2024, at Rs12.5/- per share i.e. 125%.

Going by the results, APL recorded its topline at Rs235.52bn in 1HFY25, reflecting a decline of 15.40% YoY.

After deducting sales tax and other governmental levies worth Rs3.7bn, the net sales clocked in at Rs231.82 billion during the review period.

In line with the downturn in sales, the cost of goods sold also experienced a 13.45% YoY decrease.

Consequently, the company's gross profit decreased by 39.71% YoY, reaching Rs8.06bn in 1HFY25.

On the expense side, the company observed an increase in operating expenses by 7.69% YoY to clock in at Rs4.15 billion respectively during the review period.

Conversely, other expenses of APL contracted by 40.73% YoY to Rs556.14 million in 1HFY25.

During these six months of the ongoing fiscal year, the company incurred a net impairment reversal on its financial assets of Rs17.49mn, against Rs32.214 million recorded in the SPLY, reflecting a decline of 45.71% YoY.

APL's other income expanded by 32.87% YoY to Rs1.11 billion, while the share of profits through associates skyrocketed by 2295.27% YoY to Rs543.92 million in 1HFY25.

The company’s net finance income declined to Rs3.06 billion as compared to Rs3.28 billion in 1HFY24, reflecting a 6.72% YoY decrease, despite higher finance costs.

On the tax front, the company paid a lower tax worth Rs2.97 billion against the Rs4.87 billion paid in the corresponding period of last year, depicting a decline of 39.10% YoY.

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