Attock Petroleum Ltd. profits fall 2.19 percent to Rs. 4.263 billion

MG News | April 16, 2018 at 01:19 PM GMT+05:00

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Attock Petroleum Limited (APL) today announced financial results for the nine months period ending 31 March, 2018 reporting Net Sales worth Rs. 149.422 billion up 25.76 percent from same period last year. Furthermore, the company’s gross profit during the outgoing nine months increased by 19.98 percent to reach 6.870 billion.

Net Sales during the reported period only went up by 26.19 percent, with Cost of Sales increasing by more than 26.58 percent to reach 114.489 billion. The company reported profit for the period at Rs 4.263 billion down 2.19 percent from same period last year.

Other income also took a fall of more than 15 percent, coupled with the 87.30 percent jump in financing costs, the company reported an EPS of Rs. 51.41 vs. an EPS of Rs 52.56 during the nine months ending March, 2017.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Nine Months Ended, March 30^th 2018
Key Financials	March, 2018	March, 2017	% Change
	Amounts in PKR ‘000
Sales	149,422,679	118,815,194	25.76%
Sales Tax	28,063,534	22,641,493	23.95%
Net Sales	121,359,145	96,173,701	26.19%
Cost of Products Sold	114,489,018	90,447,330	26.58%
Gross Profit	6,870,629	5,726,371	19.98%
Other Income	604,179	711,851	-15.13%
Operating Expenses	1,885,249	1,381,939	36.42%
Operating Profit	5,589,057	5,056,283	10.54%
Finance Income	943,214	836,239	12.79%
Finance Costs	412,498	220,235	87.30%
Net Finance Income	530,716	616,004	-13.85%
Share of profit of Associated Companies	100,290	97,024	3.37%
Other Charges	307,318	376,612	-18.40%
Profit before Taxation	5,912,745	6,145,923	-3.79%
Taxation	1,649,000	1,786,707	-7.71%
Profit for the Period	4,263,745	4,359,216	-2.19%
EPS - Basic and diluted	51.41	52.56	-2.19%

Company release on Earnings Report can be accessed here.

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