Attock Petroleum earns Rs3bn profit in Apr-Jun quarter

News Image

MG News | September 02, 2024 at 11:00 AM GMT+05:00

0:00

September 02, 2024 (MLN): Attock Petroleum Limited (PSX: APL) earned a profit after tax of Rs3.04 billion [EPS: Rs24.44] during the April-June quarter despite a slump in gross margins.

That is up 15.9% compared to a profit of Rs2.62bn [EPS: Rs21.09] in the same period last year (SPLY) due to a significant jump in other income and a decline in finance costs.

Along with the results, the company announced a final cash dividend for the year ending June 2024 of Rs17.5 per share i.e. 175%. This is in addition to the interim dividend already paid at Rs10 per share.

The company's sales marked an increase of 6.1% to Rs130.64bn as compared to Rs123.1bn in SPLY.

However, the cost of sales also rose by 8.4% which was higher than proportionate to sales rise, worsening the gross profit by 35.3% to Rs4.07bn in Q2 2024.

The gross margins fell to 3.1% as compared to 5.1% in SPLY.

On the other hand, the company's other income surged 76.8% to stand at Rs4.2bn in Q2 2024 as compared to Rs2.37bn in SPLY.

On the expense side, the company's other operating expenses rose 3.17% YoY to Rs2.54bn.

The company’s finance cost fell by 30.9% and stood at Rs454.17m as compared to Rs657.02m in SPLY.

On the tax front, the company paid a lower tax worth Rs2.23bn against the Rs3bn paid in the corresponding period of last year, depicting a decrease of 25.5%.

Unconsolidated (un-audited) Financial Results for quarter ended June 30, 2024 (Rupees in '000)
  Jun 24 Jun 23 % Change
Sales 130,638,437 123,103,302 6.12%
Cost of sales (126,564,495) (116,809,704) 8.35%
Gross Profit/ (loss) 4,073,942 6,293,598 -35.27%
Other Gains / (Losses) 24,531 17,798 37.83%
Share Of Profit / (Loss) (27,694) 55,352 -
Other Income 4,196,719 2,373,777 76.79%
Other Operating Expenses (2,540,600) (2,462,474) 3.17%
Finance Cost (454,167) (657,024) -30.88%
Profit/ (loss) before taxation 5,272,731 5,621,027 -6.20%
Taxation (2,231,349) (2,996,482) -25.53%
Net profit/ (loss) for the period 3,041,382 2,624,545 15.88%
Basic earnings/ (loss) per share 24.44 21.09 -

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 165,686.38
893.80M
0.13%
210.36
ALLSHR 100,785.80
1,526.08M
0.46%
459.02
KSE30 50,923.16
299.51M
-0.22%
-111.60
KMI30 241,650.72
154.62M
-0.57%
-1387.78
KMIALLSHR 66,592.55
833.69M
0.23%
155.08
BKTi 47,014.51
175.18M
0.84%
391.18
OGTi 32,380.15
31.25M
-0.28%
-91.97
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 111,125.00 114,040.00
110,695.00
-1960.00
-1.73%
BRENT CRUDE 62.05 63.04
61.79
-0.34
-0.55%
RICHARDS BAY COAL MONTHLY 80.50 80.50
80.50
-1.00
-1.23%
ROTTERDAM COAL MONTHLY 91.50 91.50
89.30
2.45
2.75%
USD RBD PALM OLEIN 1,085.00 1,085.00
1,085.00
0.00
0.00%
CRUDE OIL - WTI 58.45 59.42
58.20
-0.25
-0.43%
SUGAR #11 WORLD 15.66 15.91
15.53
-0.22
-1.39%

Chart of the Day


Latest News
October 15, 2025 at 05:02 PM GMT+05:00

Pakistan, UAE reaffirm commitment to strengthening trade


October 15, 2025 at 04:57 PM GMT+05:00

Pakistan, Egypt deepen maritime ties to boost trade


October 15, 2025 at 04:24 PM GMT+05:00

Bestway Cement profit surges 35% to Rs5.5bn in 1QFY25


October 15, 2025 at 04:20 PM GMT+05:00

CCP cracks down on mercury-contaminated whitening creams



Top 5 things to watch in this week

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