Attock Refinery profit plunges 71%

MG News | October 18, 2024 at 03:44 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

October 18, 2024 (MLN): Attock Refinery Limited's (PSX: ATRL) profit slumped 71% in the third quarter of 2024 as its margins eroded.

The company earned a profit after tax of Rs3.03 billion [EPS: Rs31.22] in the quarter ending September 2024, compared to a profit of Rs11.22bn [EPS: Rs107.53] recorded in the same period last year (SPLY).

Its revenue plunged 25.3% to Rs80.62bn from Rs107.85bn in SPLY. Gross profit plummeted 89.4% to Rs1.78bn in Q3 2024.

The gross margins worsened to 2.2% as compared to 15.6% in SPLY.

On the tax front, the company paid an effective tax rate of 38.5% as compared to 39.0% in SPLY.

Unconsolidated (un-audited) Financial Results for quarter ended September 30, 2024 (Rupees in '000)
	Sep 24	Sep 23	% Change
Sales	80,619,874	107,849,277	-25.25%
Cost of sales	(78,837,638)	(91,071,558)	-13.43%
Gross Profit/ (loss)	1,782,236	16,777,719	-89.38%
Administrative Expenses	(428,980)	(316,058)	35.73%
Selling And Distribution Expenses	(23,937)	(20,358)	17.58%
Other Gains / (Losses)	-	(732)	-
Provision Reversed / (Charged)	7,968	-	-
Other Income	4,052,757	3,240,558	25.06%
Other Operating Expenses	(370,610)	(1,372,172)	-72.99%
Finance Cost	(94,677)	90,010	-
Profit/ (loss) before taxation	4,924,757	18,398,967	-73.23%
Taxation	(1,896,338)	(7,175,597)	-73.57%
Net profit/ (loss) from refinery operations	3,028,419	11,223,370	-73.02%
Net profit/ (loss) from non-refinery operations	301,189	240,951	25.00%
Net profit/ (loss) for the period	3,329,608	11,464,321	-70.96%
Basic earnings/ (loss) per share	31.22	107.53	-

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

SSGC reverses loss, earns Rs4.16bn profit in Q1

Siemens reports Rs2.05bn loss amid surge in finance costs

HINO quarterly profit soars to Rs72.4m on strong sales growth

Name	Price/Vol	%Chg/NChg
KSE100	171,021.20 228.53M	-0.42% -718.25
ALLSHR	103,836.39 572.65M	-0.41% -422.85
KSE30	50,951.99 89.47M	-0.52% -264.77
KMI30	240,633.87 93.99M	-0.31% -756.80
KMIALLSHR	66,572.75 300.61M	-0.28% -185.59
BKTi	48,673.23 31.18M	-0.70% -343.86
OGTi	33,702.25 6.35M	-0.61% -205.57

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	64,715.00	64,825.00 63,875.00	500.00 0.78%
BRENT CRUDE	98.70	101.19 95.13	-1.99 -1.98%
RICHARDS BAY COAL MONTHLY	105.75	0.00 0.00	-1.55 -1.44%
ROTTERDAM COAL MONTHLY	121.10	121.10 121.10	0.70 0.58%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	90.47	0.00 0.00	1.16 1.30%
SUGAR #11 WORLD	14.76	14.79 14.54	0.07 0.48%