Earnings Preview: APL's profit to be dragged down by drop in furnace oil sales

News Image

MG News | January 21, 2019 at 04:26 PM GMT+05:00

0:00

January 21, 2019 (MLN): Attock Petroleum Limited (APL) is scheduled to announce its financial results on 22nd January, 2019 for the period 1HFY19 ended on December 31, 2018.

Based on projections from various research houses, the market expects APL’s profit after tax for 1HFY19 to be clocked in between Rs 2.86 billion to Rs 2.9 billion, while in 2QFY19, the company is likely to post a profit in between Rs 1.3 billion to Rs 1.32 billion with EPS ranging from Rs 12.8 to Rs 13.3.

This suggests that the company’s expected earnings in 1HFY19 is expected to increase, while the company’s year-on-year earnings this quarter is likely to decline.

Arif Habib Limited (AHL) expects the company to post an after tax profit of PKR 2,869 million (EPS: PKR

28.83) for 1HFY19, up by 2% YoY, while on quarterly basis the company is expected to exhibit a profit of PKR 1,322 million with EPS RS 13.28.

However, the topline of the company is expected to grow by 49% YoY on the back of massive increase in product prices. Whereas on quarterly basis topline of the company is poised to register a decline of 4% to PKR 55.76 billion amid slowdown in sale of high margin Furnace oil.

Another research house Pearl Securities Limited, expects the company to post an after tax profit of PKR 2,867 million for 1HFY19, up by 2% as compared to the same period last year.

Whereas on quarterly basis, the company is expected to post a profit after tax at PKR 1319 million (EPS PKR13.26) in 2QFY19 versus PKR1480 million (EPS PKR14.87) recorded in the same quarter last year, demonstrating a decline of 11%YoY.

Explaining further, Mr. Muhammad Nabeel at Pearl Securities told Mettis Link News that the decline in the sales of Furnace oil and lower inventory gains last year are the two important reasons behind the decline of profit expectations in 2QFY19.

Similarly, Foundation Securities Limited expects APL to face a plunge in profits by 14% YoY and 18% QoQ in 2QFY19, that would result in flattish YoY 1HFY19 profitability to Rs28.3/sh. As per the research house, the EPS in 2QFY19 is expected to clock in at Rs12.8.

Speaking with Mettis Link News, Mr. Arsalan Siddiqui at Foundation Securities briefed that the gross profit of the company in 2QFY19 is expected to decline YoY owing to higher base year (elevated inventory gains) and decline in volumes by 5% YoY.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 136,379.97
273.10M
0.32%
440.10
ALLSHR 84,648.35
701.94M
0.06%
47.97
KSE30 41,546.23
70.12M
0.42%
172.55
KMI30 191,719.76
71.30M
0.34%
649.79
KMIALLSHR 55,827.74
371.98M
0.16%
89.67
BKTi 37,827.61
18.93M
-1.72%
-662.14
OGTi 27,670.67
7.41M
-0.42%
-117.47
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 119,205.00 119,660.00
117,255.00
2465.00
2.11%
BRENT CRUDE 68.10 69.09
67.71
-0.61
-0.89%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
1.80
1.90%
ROTTERDAM COAL MONTHLY 104.50 0.00
0.00
-1.05
-0.99%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 65.87 67.01
65.42
-0.65
-0.98%
SUGAR #11 WORLD 16.50 16.65
16.40
-0.06
-0.36%

Chart of the Day


Latest News
July 16, 2025 at 05:45 PM GMT+05:00

PM pushes for digital, International-Standard education


July 16, 2025 at 05:09 PM GMT+05:00

Gold price in Pakistan falls Rs3,000 per tola


July 16, 2025 at 04:06 PM GMT+05:00

PSX Closing Bell: On the Rise


July 16, 2025 at 03:54 PM GMT+05:00

MTL expected to climb to Rs650/share by Dec 2025


July 16, 2025 at 03:52 PM GMT+05:00

PKR falls 29 paisa against USD



Top 5 things to watch in this week

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