Attock Refinery's profit falls 16% to Rs3.6bn

News Image

By MG News | September 02, 2024 at 12:04 PM GMT+05:00

0:00

September 02, 2024 (MLN): Attock Refinery Limited (PSX: ATRL) experienced a fall of 16.4% in its earnings during the second quarter of 2024, with its profit after tax declining to Rs3.56 billion [EPS: Rs33.40], compared to a profit of Rs5.23bn [EPS: Rs49.03] in the same period last year (SPLY).

In the full year ending June 2024, the refinery company posted a 15.8% lower profit worth Rs25.2bn [EPS: Rs236.76], compared to a profit of Rs29.2bn [EPS: Rs236.76] in 2023.

Along with the results, the company announced a final cash dividend of Rs12.5 per share i.e. 125%. This is in addition to the interim dividend already paid at Rs2.5 per share.

During FY24, the company's sales revenue increased 3.7% to Rs382.92bn as compared to Rs369.22bn in SPLY.

However, the cost of sales also rose by 9.2%, worsening the gross profit by 36.1% to Rs28.79bn in FY24.

The gross margins fell to 7.5% as compared to 12.2% in SPLY.

During the year, other income grew by 80.5% to stand at Rs15.02bn in FY24 as compared to Rs8.32bn in SPLY.

On the expense side, the company's administrative expenses rose 12.9% YoY to Rs1.4bn, selling and distribution expenses rose 6.3% YoY to Rs103.19m, and other operating expenses fell 15.3% YoY to Rs2.94bn.

On the tax front, the company paid a lower tax worth Rs15.07bn against the Rs18.19bn paid in the corresponding period of last year, depicting a decrease of 17.1%.

Unconsolidated (un-audited) Financial Results for year ended June 30, 2024 (Rupees in '000)
  Jun 24 Jun 23 % Change
Sales 382,916,673 369,221,549 3.71%
Cost of sales (354,126,203) (324,172,876) 9.24%
Gross Profit/ (loss) 28,790,470 45,048,673 -36.09%
Other Income 15,023,921 8,322,799 80.52%
Profit/ (loss) before taxation 39,424,873 46,195,189 -14.66%
Taxation (15,069,253) (18,185,111) -17.13%
Net profit/ (loss) for the period - Refinery Operations 24,355,620 28,010,078 -13.05%
Net profit/ (loss) for the period - Total 25,243,861 29,225,232 15.77%
Basic earnings/ (loss) per share 236.76 262.72 -

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 133,569.23
126.27M
0.15%
199.08
ALLSHR 83,297.70
464.96M
0.26%
216.55
KSE30 40,752.26
42.37M
0.12%
46.96
KMI30 192,367.87
50.54M
-0.11%
-212.80
KMIALLSHR 55,897.98
263.03M
0.11%
62.27
BKTi 36,558.21
8.79M
0.66%
241.04
OGTi 28,559.25
4.82M
0.06%
16.30
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,685.00 108,880.00
107,680.00
230.00
0.21%
BRENT CRUDE 69.27 69.50
69.03
-0.31
-0.45%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
2.90
3.07%
ROTTERDAM COAL MONTHLY 106.00 106.75
106.00
0.25
0.24%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 67.55 67.97
67.40
-0.38
-0.56%
SUGAR #11 WORLD 16.25 16.46
16.07
-0.13
-0.79%

Chart of the Day


Latest News
July 08, 2025 at 12:04 PM GMT+05:00

Saudi Riyal available at PKR 76.4 in open market


July 08, 2025 at 11:55 AM GMT+05:00

NBP leads Pakistan’s banks in shareholder value surge


July 08, 2025 at 11:39 AM GMT+05:00

Pakistan-Afghanistan railway talks progress


July 08, 2025 at 10:42 AM GMT+05:00

Pakistan moves to regulate crypto with PVARA approval



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg