National Refinery posts Rs7.2bn loss

MG News | October 18, 2024 at 11:55 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

October 18, 2024 (MLN): National Refinery Limited (PSX: NRL) incurred a net loss of Rs7.24 billion [LPS: Rs90.5] in the quarter ending September 2024 as its revenue fell while costs jumped.

That compares to a profit of Rs3.2bn [EPS: Rs40.05] recorded in the same period last year (SPLY).

Going by the results, the company's sales decreased 9.3% to Rs66.98bn as compared to Rs73.83bn in SPLY. Moreover, the cost of sales rose by 10.2%, leading to a gross loss of Rs6.3bn in Q3 2024.

During the period under review, other income marked an increase of 39.2% to stand at Rs105.8m in Q3 2024 as compared to Rs76.01m in SPLY.

On the expense side, the company's administrative expenses inched up by 0.2% from a year ago to Rs279.5m, while selling and distribution expenses surged 108.6% to Rs209.68m.

The company’s finance cost also soared 97.0% and stood at Rs2.89bn as compared to Rs1.47bn in SPLY.

Unconsolidated (un-audited) Financial Results for quarter ended September 30, 2024 (Rupees in '000)
	Sep 24	Sep 23	% Change
Sales	66,975,812	73,828,454	-9.28%
Cost of sales	(73,273,053)	(66,474,560)	10.23%
Gross Profit/ (loss)	(6,297,241)	7,353,894	-
Administrative Expenses	(279,499)	(278,904)	0.21%
Selling And Distribution Expenses	(209,678)	(100,518)	108.60%
Other Income	105,795	76,011	39.18%
Other Operating Expenses	(11,007)	(395,604)	-97.22%
Finance Cost	(2,886,556)	(1,465,652)	96.95%
Profit/ (loss) before taxation	(9,578,186)	5,189,227	-
Taxation	2,341,601	(1,986,525)	-
Net profit/ (loss) for the period	(7,236,585)	3,202,702	-
Basic earnings/ (loss) per share	(90.50)	40.05	-

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	176,133.57 448.77M	0.12% 205.83
ALLSHR	106,568.82 1,000.73M	0.14% 149.03
KSE30	52,663.90 106.37M	0.09% 48.09
KMI30	247,838.42 145.61M	0.01% 22.07
KMIALLSHR	68,255.80 586.07M	0.03% 23.11
BKTi	50,243.89 28.25M	0.32% 158.69
OGTi	34,622.42 7.25M	-0.35% -120.21

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	66,530.00	66,770.00 65,165.00	1345.00 2.06%
BRENT CRUDE	91.36	91.41 87.87	2.14 2.40%
RICHARDS BAY COAL MONTHLY	105.75	0.00 0.00	-1.25 -1.17%
ROTTERDAM COAL MONTHLY	120.25	120.25 120.25	0.35 0.29%
USD RBD PALM OLEIN	1,135.00	1,135.00 1,135.00	0.00 0.00%
CRUDE OIL - WTI	84.77	84.83 81.39	2.29 2.78%
SUGAR #11 WORLD	14.86	14.92 14.76	0.04 0.27%