Attock refinery undergoes a drop of 81% in annual profits

Profit and Loss Account for the Year ended June 30th 2018 ('000 Rupees)

Jun-18

Jun-17

% Change

Gross sales

                  179,430,555

                  139,515,951

28.61%

Taxes, duties, levies and price differential

                  (49,833,990)

                  (38,104,159)

30.78%

Net sales

                  129,596,565

                  101,411,792

27.79%

Cost of sales

                (130,675,227)

                  (97,078,919)

34.61%

Gross profit/(loss)

                     (1,078,662)

                       4,332,873

Administrative expenses

                           645,120

                           595,023

8.42%

Distribution cost

                             50,156

                             49,047

2.26%

Other charges

                        (106,271)

                           202,660

Other income

                       1,977,477

                       1,434,222

37.88%

Operating profit/(loss)

                           309,810

                       4,920,365

-93.70%

Finance cost

                     (2,925,299)

                     (1,263,141)

131.59%

Profit/(loss) before taxation from refinery operations

                     (2,615,489)

                       3,657,224

Taxation

                       1,602,931

                             42,111

3706.44%

Profit/(loss) after taxation from refinery operations

                     (1,012,558)

                       3,699,335

Income from non-refinery operations

                       2,401,306

                       3,715,479

-35.37%

Profit for the year

                       1,388,748

                       7,414,814

-81.27%

Earnings per share - basic and diluted (rupees)

                               16.28

                               86.93

-81.27%