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Attock Petroleum witnesses 6.7% increase in annual profits

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%

 

Posted on: 2018-08-15T11:02:00+05:00

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