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

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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.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Nine Months Ended, March 30^th 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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