Attock Petroleum profit drops nearly 29% in 9MFY25

April 28, 2025 (MLN): Attock Petroleum Limited (PSX: APL) reported a 28.6% decline in net profit, recording Rs7.7 billion [EPS: Rs61.88] for the nine months ended March 31, 2025, compared to Rs10.78bn [EPS: Rs86.65] in the same period last year (SPLY).

The company's net sales fell 12.4% to Rs346.74bn from Rs395.68bn in SPLY. Although the cost of products sold also declined by 11.8%, it was not enough to offset the revenue drop, resulting in a 24.2% decrease in gross profit, which stood at Rs13.41bn.

Other income, however, showed an improvement, rising 25.2% to Rs1.65bn compared to Rs1.32bn in SPLY, helping partially cushion the impact on operating profitability.

Operating expenses surged by 17.2% to Rs6.38bn, while finance income dipped 11.4% to Rs5.66bn. Meanwhile, finance costs increased by 26.7% to Rs1.48bn, primarily reflecting higher borrowing costs during the period.

Share of profit from associates rose significantly to Rs411.11 million, up from Rs101.09m in SPLY, providing some support to the bottom line.

On the taxation front, the company booked a lower tax provision of Rs4.7bn, compared to Rs6.74bn in the same period last year, showing a decline of 30.2%.

This resulted in a profit before taxation of Rs12.4bn, down 29.2% from the previous year.

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