Attock Petroleum profits upsurge by 16.35% owing to improved topline earnings

October 12, 2018 (MLN): Attock Petroleum Limited’s profits for the quarter ended September 30^th 2018 have escalated by 16.35%, owing to an improvement in the top-line earnings.

The company’s financial earnings for the quarter were reviewed earlier today during the Board of Directors meeting, where a comparison with the previous year’s earnings was drawn.

According to the report on company’s financial earnings issued by PSX, the overall sales witnessed a hike of around Rs.19 billion, exhibiting a growth of almost 50.02%.

Since the company’s cost of sales grew by an almost equal margin of 51.1%, the gross profits increased by only 30.02%.

The impact of decrease in net finance income by 39.72% and profits of associated companies by 97.61%, combined with an increase in other charges by 20.37% led to the Profit before taxation increasing by a mere 16.09%.

Nevertheless, the company’s annual profits increased from Rs.1.3 billion to Rs.1.5 billion during the quarter ended September 30^th 2018.

Earnings per share went up by 16.39% as they increased from Rs.13.36 per share to Rs.15.55 per share.

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