Pakistan Refinery Limited faces Rs1.24bn loss in 1Q2024

MG News | April 24, 2024 at 10:05 AM GMT+05:00
April 24, 2024 (MLN): Pakistan Refinery Limited (PSX: PRL) unveiled its profit and loss statement for three months ended March 2024, wherein the loss after tax clocked in at Rs1.24 billion [LPS: Rs1.97] compared to a profit of Rs1.77bn [EPS: Rs2.81] in the same period last year (SPLY).
Going by the results, the company's top line decreased by 17.0% YoY to Rs49.46bn as compared to Rs59.55bn in SPLY.
The cost of sales fell to Rs50.01bn in 1Q2024 as compared to Rs55.09bn in SPLY.
The gross margins worsened to -1.13% as compared to 7.50% in SPLY.
During the review period, other income rose by 95.4% YoY to stand at Rs1.12bn in 1Q2024 as compared to Rs574.32m in SPLY.
On the expense side, the company observed an increase in administrative expenses by 87.4% YoY and other expenses by 6.31x YoY to clock in at Rs329.07m and Rs1.25bn respectively during the review period.
The company’s finance cost decreased by 47.5% YoY and stood at Rs987.87m as compared to Rs1.88bn in SPLY.
On the taxation front, the company received a tax credit worth Rs871.1m as against tax expense paid Rs881.5m in the same quarter of last year.
Unconsolidated (un-audited) Financial Results for quarter ended March 31, 2024 (Rupees in '000) | |||
---|---|---|---|
Mar 24 | Mar 23 | % Change | |
Sales | 49,455,730 | 59,554,649 | -16.96% |
Cost of sales | (50,014,825) | (55,089,806) | -9.21% |
Gross Profit | (559,095) | 4,464,843 | - |
Administrative Expenses | (329,071) | (175,573) | 87.43% |
Selling And Distribution Expenses | (116,884) | (125,540) | -6.90% |
Share Of Profit / (Loss) | 6,075 | (6,546) | - |
Other Income | 1,122,295 | 574,320 | 95.41% |
Other Operating Expenses | (1,245,765) | (197,403) | 531.08% |
Finance Cost | (987,868) | (1,880,511) | -47.47% |
Profit before taxation | (2,110,313) | 2,653,590 | - |
Taxation | 871,101 | (881,471) | - |
Net profit for the period | (1,239,212) | 1,772,119 | - |
Basic earnings/ (loss) per share | (1.97) | 2.81 |
Amount in thousand except for EPS
Copyright Mettis Link News
Related News
Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 134,299.77 290.06M |
0.39% 517.42 |
ALLSHR | 84,018.16 764.12M |
0.48% 402.35 |
KSE30 | 40,814.29 132.59M |
0.33% 132.52 |
KMI30 | 192,589.16 116.24M |
0.49% 948.28 |
KMIALLSHR | 56,072.25 387.69M |
0.32% 180.74 |
BKTi | 36,971.75 19.46M |
-0.05% -16.94 |
OGTi | 28,240.28 6.19M |
0.21% 58.78 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 118,140.00 | 0.00 0.00 |
-390.00 -0.33% |
BRENT CRUDE | 70.63 | 70.71 68.55 |
1.99 2.90% |
RICHARDS BAY COAL MONTHLY | 97.50 | 0.00 0.00 |
1.10 1.14% |
ROTTERDAM COAL MONTHLY | 108.75 | 108.75 108.75 |
0.40 0.37% |
USD RBD PALM OLEIN | 998.50 | 998.50 998.50 |
0.00 0.00% |
CRUDE OIL - WTI | 68.75 | 0.00 0.00 |
0.30 0.44% |
SUGAR #11 WORLD | 16.56 | 16.60 16.20 |
0.30 1.85% |
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 |
---|