National Refinery’s losses for 1HFY20 shrink by 22%
By MG News | January 21, 2020 at 12:51 PM GMT+05:00
January 21, 2020 (MLN): National Refinery Limited has incurred Net Losses of Rs. 2.98 billion (LPS: Rs. 37.33) for the half year ended on December 31, 2019, showing a decline of 22.6% over the losses witnessed in same period of last year.
The net revenue and cost of sales of the company displayed minimal growth of 1.99% and 2.62% respectively, resulting in a Gross Loss of Rs. 2.52 billion.
Despite a substantial rise in the non-core income as well as fall of 1.38% in Administrative Expense during the period, the company’s Operating Losses rose by 4.73%.
However, the company got a much needed breather from the fall in finance costs by around 52%, which ultimately pulled down the Losses before Taxation by nearly 21%.
| Profit and Loss Account for the half year ended December 31, 2019 ('000 Rupees) | |||
|---|---|---|---|
| Dec-19 | Dec-18 | % Change | |
| Revenue from contracts with customers | 108,148,601 | 99,627,322 | 8.55% |
| Trade discounts, taxes, duties, levies an price differentials | (27,484,758) | (20,537,921) | 33.82% |
| Net sales | 80,663,843 | 79,089,401 | 1.99% |
| Cost of sales | (83,191,596) | (81,067,700) | 2.62% |
| Gross loss | (2,527,753) | (1,978,299) | 27.77% |
| Distribution cost | (442,566) | (411,439) | 7.57% |
| Administrative expenses | (437,452) | (443,555) | -1.38% |
| Other income | 615,962 | 165,817 | 271.47% |
| Other operating expenses | (10,177) | (7,951) | 28.00% |
| Operating loss | (2,801,986) | (2,675,427) | 4.73% |
| Finance cost | (1,069,359) | (2,223,465) | -51.91% |
| Loss before taxation | (3,871,345) | (4,898,892) | -20.98% |
| Taxation | 886,372 | 1,041,549 | -14.90% |
| Loss after taxation | (2,984,973) | (3,857,343) | -22.62% |
| Earnings per share - basic and diluted (rupees) | (37.33) | (48.24) | -22.62% |
Copyright Mettis Link News
Related News
.jpeg)
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 130,462.08 175.25M |
0.09% 118.05 |
| ALLSHR | 81,133.62 567.15M |
0.14% 109.63 |
| KSE30 | 39,899.27 69.17M |
-0.02% -8.99 |
| KMI30 | 190,024.00 86.19M |
0.26% 488.99 |
| KMIALLSHR | 54,900.49 292.75M |
0.21% 116.83 |
| BKTi | 34,731.75 18.29M |
-0.60% -208.98 |
| OGTi | 28,520.15 12.38M |
0.79% 224.10 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 109,820.00 | 110,195.00 109,200.00 |
-465.00 -0.42% |
| BRENT CRUDE | 68.45 | 69.00 68.41 |
-0.66 -0.96% |
| RICHARDS BAY COAL MONTHLY | 97.50 | 0.00 0.00 |
0.75 0.78% |
| ROTTERDAM COAL MONTHLY | 109.20 | 0.00 0.00 |
0.20 0.18% |
| USD RBD PALM OLEIN | 998.50 | 998.50 998.50 |
0.00 0.00% |
| CRUDE OIL - WTI | 66.76 | 67.50 66.73 |
-0.69 -1.02% |
| SUGAR #11 WORLD | 15.56 | 15.97 15.44 |
-0.14 -0.89% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Trade Balance
CPI
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|