National Refinery posts Rs8.3bn loss in three months

MG News | September 02, 2024 at 10:08 AM GMT+05:00
September 02, 2024 (MLN): National Refinery Limited (PSX: NRL) incurred a loss after tax of Rs8.27 billion [LPS: Rs103.39] during the quarter ending June 2024, a stark contrast from a profit of Rs1.56bn [EPS: Rs19.52] in the same period last year (SPLY).
The company's sales revenue rose 8.2% to Rs72.26bn as compared to Rs66.78bn in SPLY.
However, the cost of sales also surged by 24.9%, translating to a gross loss of Rs4.6bn in Q2 2024.
The gross margins plummeted to -6.4% as compared to 7.9% in SPLY.
Moreover, other income fell 55.3% to stand at Rs107.27m in Q2 2024 as compared to Rs239.89m in SPLY.
On the expense side, the company's administrative expenses fell 2.7% YoY to Rs299.33m, selling and distribution expenses rose 122.8% YoY to Rs370.62m, and other operating expenses rose 1191.9% YoY to Rs74.49m.
The company’s finance cost rose 46.0% and stood at Rs3.26bn as compared to Rs2.24bn in SPLY, mainly due to higher interest rates.
On the tax front, the company received a tax credit of Rs234.58m against the tax expense worth Rs1.21bn paid in the corresponding period of last year.
Unconsolidated (un-audited) Financial Results for quarter ended June 30, 2024 (Rupees in '000) | |||
---|---|---|---|
Jun 24 | Jun 23 | % Change | |
Sales | 72,260,615 | 66,778,613 | 8.21% |
Cost of sales | (76,860,601) | (61,532,328) | 24.91% |
Gross Profit/ (loss) | (4,599,986) | 5,246,285 | - |
Administrative Expenses | (299,332) | (307,469) | -2.65% |
Selling And Distribution Expenses | (370,620) | (166,329) | 122.82% |
Other Income | 107,265 | 239,893 | -55.29% |
Other Operating Expenses | (74,488) | (5,766) | 1191.85% |
Finance Cost | (3,264,877) | (2,236,687) | 45.97% |
Profit/ (loss) before taxation | (8,502,038) | 2,769,927 | - |
Taxation | 234,577 | (1,209,107) | - |
Net profit/ (loss) for the period | (8,267,461) | 1,560,820 | - |
Basic earnings/ (loss) per share | (103.39) | 19.52 | - |
Amount in thousand except for EPS
Copyright Mettis Link News
Related News
Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 163,098.19 607.60M | -0.87% -1432.62 |
ALLSHR | 99,276.25 1,397.26M | -0.80% -801.63 |
KSE30 | 50,184.56 221.88M | -0.89% -450.56 |
KMI30 | 238,333.52 129.55M | -1.13% -2718.46 |
KMIALLSHR | 65,792.54 685.73M | -0.99% -655.65 |
BKTi | 45,653.52 111.72M | -1.00% -461.31 |
OGTi | 32,313.25 10.70M | -1.57% -516.41 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 114,520.00 | 0.00 0.00 | -2470.00 -2.11% |
BRENT CRUDE | 62.09 | 65.36 62.00 | -3.13 -4.80% |
RICHARDS BAY COAL MONTHLY | 81.00 | 81.00 81.00 | -1.60 -1.94% |
ROTTERDAM COAL MONTHLY | 90.50 | 0.00 0.00 | 0.40 0.44% |
USD RBD PALM OLEIN | 1,085.00 | 1,085.00 1,085.00 | 0.00 0.00% |
CRUDE OIL - WTI | 58.24 | 0.00 0.00 | -0.66 -1.12% |
SUGAR #11 WORLD | 16.10 | 16.35 15.97 | -0.16 -0.98% |
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 |
---|