Attock Petroleum witnesses 6.7% increase in annual profits

MG News | August 15, 2018 at 11:02 AM GMT+05:00

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Attock Petroleum Limited discussed their financial earnings for the year ended June 30th 2018 in a Board of Directors meeting held on august 14th 2018.

According to the report, as compared to the year ended June 30th 2017, Attock's Net Sales went up by almost 28% while Gross Profit increased by 32.8%.

In contrast, their Operating expenses rose by 35%, yet Operating profits increased by 27%.

Conclusively, the company's overall profits for the year increased by 6.74%, while Earnings per share are recorded at Rs.68.19 per share.

Profit and Loss Account for the Year Ended June 30th 2018 ('000 Rupees)
	Jun-18	Jun-17	% Change
Sales	216,359,813	172,081,286	25.73%
Sales tax	(39,015,376)	(33,420,621)	16.74%
Net sales	177,344,437	138,660,665	27.90%
Cost of products sold	(167,601,143)	(131,325,344)	27.62%
Gross profit	9,743,294	7,335,321	32.83%
Other income	884,577	912,713	-3.08%
Operating expenses	(2,542,546)	(1,880,857)	35.18%
Operating Profit	8,085,325	6,367,177	26.98%
Net finance income	677,601	812,816	-16.64%
Share of (loss)/profit of associated companies	(34,139)	217,948
(Provision for)/reversal of other charges	(439,475)	301,227
Profit before taxation	8,289,312	7,699,168	7.67%
Provision for income tax	(2,632,963)	(2,400,000)	9.71%
Profit for the year	5,656,349	5,299,168	6.74%
Earnings per share - basic and diluted (Rupees)	68.19	63.89	6.73%