National Refinery posts Rs7.2bn loss
MG News | October 18, 2024 at 11:55 AM GMT+05:00
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 | 139,858.51 52.71M | 1.04% 1446.26 |
| ALLSHR | 86,656.22 117.21M | 1.11% 953.26 |
| KSE30 | 42,735.90 30.90M | 1.14% 481.06 |
| KMI30 | 197,088.80 33.99M | 1.53% 2979.21 |
| KMIALLSHR | 57,517.03 57.06M | 1.42% 803.36 |
| BKTi | 38,032.22 2.98M | 0.53% 200.88 |
| OGTi | 28,374.48 14.76M | 3.40% 933.84 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 119,330.00 | 119,430.00 117,905.00 | 1710.00 1.45% |
| BRENT CRUDE | 72.23 | 72.82 72.19 | -1.01 -1.38% |
| RICHARDS BAY COAL MONTHLY | 96.50 | 0.00 0.00 | 2.20 2.33% |
| ROTTERDAM COAL MONTHLY | 104.50 | 104.50 104.50 | -0.30 -0.29% |
| USD RBD PALM OLEIN | 998.50 | 998.50 998.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 69.86 | 70.41 69.83 | -0.14 -0.20% |
| SUGAR #11 WORLD | 16.46 | 16.58 16.37 | -0.13 -0.78% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|