National Refinery Ltd reports disappointing results despite huge tax relief

07:25
July 29, 2019
MG

July 29, 2019 (MLN): National Refinery Limited (NRL) has incurred losses of Rs. 8.6 billion for the year ended June 30, 2019, as compared to profits of Rs. 1.7 billion reported last year.

The Loss per share (LPS) of the company stood at Rs. 108.7 as compared to Earnings per share (EPS) of Rs. 22.14 last year.

These losses can be attributed to 24.17% increase in cost of sales, which resulted in a negative Gross Profit figure.

Furthermore, the company’s finance costs jumped by 199% on account of rise in interest rates on borrowings.

However, the presence of tax relief amounting to Rs. 2.3 billion provided some respite to the company’s financial health.

Profit and loss account for the year ended June 30, 2019 (Rupees'000)
	June 30, 2019	June 30, 2018	% Change
Revenue from contracts with customers	209,417,257	184,216,252	13.68%
Trade discounts, taxes, duties, levies and price differential	-48,511,060	-47,231,312	2.71%
Net revenue from contracts with customers	160,906,197	136,984,940	17.46%
Cost of sales	-165,355,337	-133,172,931	24.17%
Gross (loss) / profit	-4,449,140	3,812,009
Distribution cost	-814,479	-756,507	7.66%
Administrative expenses	-831,564	-863,194	-3.66%
Other income	369,511	558,088	-33.79%
Other operating expenses	-17,590	-77,453	-77.29%
Operating (loss) / profit	-5,743,262	2,672,943
Finance cost	-5,285,749	-1,765,615	199.37%
(Loss) / profit before taxation	-11,029,011	907,328
Taxation	2,336,584	863,356	170.64%
(Loss) / profit after taxation	-8,692,427	1,770,684
(Loss) / earnings per share – basic and diluted	-108.70	22.14

Copyright Mettis Link News

Posted on: 2019-07-29T12:25:00+05:00

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1	PKR	278.30000	278.50000	278.50000	278.30000	03:02 PM
2	EUR	1.07020	1.07050	1.07050	1.07020	05:27 PM
3	GBP	1.24482	1.24530	1.24530	1.24482	05:27 PM
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7	AUD	0.64854	0.64877	0.64877	0.64854	05:27 PM
8	INR	83.35480	83.37630	83.37630	83.35480	05:23 PM
9	SAR	3.75070	3.75090	3.75090	3.75070	02:27 AM
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20	TRY	32.54210	32.55210	32.55210	32.54210	05:25 PM
21	SEK	10.80990	10.81890	10.81890	10.80990	05:27 PM
22	ZAR	19.10280	19.13280	19.13280	19.10280	05:27 PM
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25	ARS	872.58700	872.59500	872.59523	872.58682	05:27 PM
26	BDT	107.93300	111.30800	111.30797	107.93329	07:19 AM
27	BHD	0.37698	0.37703	0.37703	0.37698	02:24 AM
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30	KWD	0.30799	0.30809	0.30809	0.30799	12:44 AM
31	LKR	296.61500	303.17700	303.17688	296.61502	07:19 AM
32	OMR	0.38498	0.38502	0.38502	0.38498	02:00 AM
33	QAR	3.64600	3.64900	3.64900	3.64600	02:24 AM
34	RUB	93.47000	94.07000	94.07000	93.47000	11:55 AM
35	AFN	70.00000	73.00000	73.00000	70.00000	11:54 AM
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42	NGN	1,233.00000	1,234.00000	1,234.00000	1,233.00000	11:55 AM
43	KES	133.00000	135.00000	135.00000	133.00000	11:54 AM
44	AMD	390.04000	390.04000	390.04000	390.04000	07:57 AM
45	TWD	32.54130	32.57130	32.57130	32.54130	05:26 PM
46	XAU	2,321.90000	2,322.40000	2,322.40000	2,321.90000	05:26 PM
47	XAG	27.28910	27.31040	27.31040	27.28910	05:26 PM
48	XPT	907.64700	917.15300	917.15290	907.64710	02:00 AM
49	XPD	1,019.06000	1,025.94000	1,025.94200	1,019.05790	02:00 AM
2,120	VES	36.26120	36.34220	36.34216	36.26125	11:55 AM
2,212	UGX	3,769.29000	3,853.65000	3,853.65305	3,769.28701	07:19 AM
2,213	TZS	2,594.99000	2,595.01000	2,595.01500	2,594.98500	07:16 AM

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Name	High	Current	Low	Change	% Change	Volume	Value	DateTime
KSE100	71,846.64	71,359.405	71,338.43	-74.056	-0.104	383,445,458.0	14,889,881,592.600	23/04/2024 04:13 PM
ALLSHR	47,130.64	46,865.873	46,836.87	-98.781	-0.210	652,962,508.0	24,431,501,771.190	23/04/2024 04:13 PM
KSE30	23,685.35	23,566.856	23,534.69	0.501	0.002	105,787,553.0	9,001,534,258.600	23/04/2024 04:13 PM
KMI30	120,645.96	119,675.932	119,552.66	77.916	0.065	170,342,506.0	8,837,506,407.860	23/04/2024 04:13 PM
KMIALLSHR	33,523.95	33,318.567	33,318.59	-47.008	-0.141	508,418,986.0	19,702,328,669.270	23/04/2024 04:13 PM
BKTi	17,962.81	17,852.482	17,760.93	-63.214	-0.353	24,348,778.0	2,523,701,350.410	23/04/2024 04:13 PM
OGTi	17,099.54	16,869.074	16,809.71	-50.514	-0.299	6,409,607.0	961,700,948.010	23/04/2024 04:13 PM

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Name	Symbol	Last	High	Low	Change
BITCOIN FUTURES	BTC	66,250.0	67,340.0	65,795.0	-360.00
BRENT CRUDE	EB	88.5	88.5	86.0	1.48
RICHARDS BAY COAL MONTHLY	EF	105.5	0.0	0.0	-2.10
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USD RBD PALM OLEIN	POL	832.5	832.5	832.5	0.00
CRUDE OIL – WTI	QCL	83.4	83.4	80.9	1.50
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