Cnergyico to explore options to enhance liquidity, crude availability position

MG News | March 09, 2022 at 10:35 AM GMT+05:00

0:00

March 9, 2022 (MLN): The Board of Directors of Cnergyico PK Limited has decided to explore all options to enhance the current liquidity of the company, working capital lines, and current position of the crude availability,

In a meeting held yesterday, the Board discussed the recent increase in international oil prices, implementation of price differentials and their corresponding impact on the company’s financial position.

During 1HFY22, the company incurred a loss after tax of Rs1.28 billion as compared to profit after tax of Rs961 million in the same period last year.

The net sales of the company jumped to Rs77.90 billion from Rs65.60 billion in the same period last year, however, gross profit went down to Rs1.62 billion compared to Rs3.26 billion last year.

The company’s stock is currently trading at Rs5.27, with a volume of 851,477 shares.

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