Attock Refinery Ltd. sales rise 23.92 percent to Rs. 125.153 billion
MG News | April 16, 2018 at 02:02 PM GMT+05:00
Attock Refinery Limited (ARL) today announced financial results for the nine months period ending 31 March, 2018 reporting Net Sales worth Rs. 89.002 billion. Furthermore, the company’s gross profit during the outgoing nine months fell by 53.22 percent to reach 562.736 million.
ARL releases on the exchange show a very dismal performance during the last nine months year ending March, 2018. Net Sales during the reported period only went up by 23.92 percent, with Cost of Sales increasing by more than 21.73 percent to reach 88.440 billion.
Despite a marked reduction in company’s Administrative Expenses the company’s bottom-line profits fell by more than 63.77 percent during the period to reach 1.228 billion down from 3.389 billion same period last year.
Other income also took a fall of more than 100 percent, coupled with the 146.24 percent jump in financing costs, the company reported an EPS of Rs. 14.39 vs. an EPS of Rs 39.64 during the nine months ending March, 2017.
| Unconsolidated Profit and Loss Account - For the Nine Months Ended, March 30th 2018 | |||
|---|---|---|---|
| Key Financials | March, 2018 | March, 2017 | % Change |
| Amounts in PKR ‘000 | |||
| Gross Sales | 125,153,277 | 100,998,772 | 23.92% |
| Taxes, duties, levies and price differential | 36,150,352 | 27,145,812 | 33.17% |
| Net Sales | 89,002,925 | 73,852,960 | 20.51% |
| Cost of Sales | 88,440,189 | 72,649,945 | 21.73% |
| Gross Profit/(loss) | 562,736 | 1,203,015 | -53.22% |
| Administrative Expenses | 478,956 | 432,547 | 10.73% |
| Distribution Cost | 36,226 | 34,416 | 5.26% |
| Other Charges | - | 44,276 | -100.00% |
| Other Income | 1,455,186 | 964,941 | 50.81% |
| Operating Profit/(Loss) | 1,502,740 | 1,656,717 | -9.29% |
| Finance Cost | 2,008,022 | 815,464 | 146.24% |
| Profit/(loss) before Taxation from Refinery Operations | (505,282) | 841,253 | -160.06% |
| Taxation | 234,469 | 833,550 | -71.87% |
| Income/(loss) after Taxation from Refinery Operations | (270,813) | 1,674,803 | -116.17% |
| Profit/(loss) after Taxation | 1,228,026 | 3,389,132 | -63.77% |
| Earnings/(Loss) per share - Basic and diluted | 14.39 | 39.64 | -63.70% |
| Refinery Operations | (3.18) | 19.64 | -116.19% |
| Non-refinery Operations | 17.51 | 20.10 | -12.89% |
Company release on Earnings Report can be accessed here.
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