Pakistan Refinery Limited profits fall by 34.82 percent to Rs. 694.504 million

By MG News | April 27, 2018 at 11:11 AM GMT+05:00

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Pakistan Refinery Limited (PRL) today announced financial results for the nine months period ending 31 March, 2018 reporting Sales at Rs. 64.614 billion; up 29.07 percent from same period last year. Furthermore, the company’s Gross Profit fell to Rs. 989.557 million from Rs. 1.803 billion last year during the outgoing nine months.

On the expenses front, PRL reported 10.99 percent increase in Distribution Costs, 12.58 percent increase in Administrative Expenses, whereas, Other Operating Expenses incurred by the company went up down 6.28 percent during the period.

Furthermore, PRL also reported a 123.65 percent increase in Other Income reaching Rs. 1.104 billion during the nine months.

Pakistan Refinery Limited reported profit after taxation at Rs. 694.504 million against Rs. 1.065 billion during the same period last year translating into an EPS of Rs. 2.26 vs. an EPS of Rs. 3.46 during the nine months ending March, 2017.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Nine Months Ended, March 30^th 2018
Key Financials	March, 2018	March, 2017	% Change
	Amounts in PKR’ 000
Net Sales	64,614,814	50,061,000	29.07%
Cost of Sales	63,625,257	48,257,305	31.85%
Gross Profit	989,557	1,803,695	-45.14%
Distribution Costs	151,653	136,636	10.99%
Administrative Expenses	265,821	236,122	12.58%
Other Operating Expenses	144,300	153,975	-6.28%
Other Income	1,063,347	475,462	123.65%
Operating Profit	1,491,130	1,752,424	-14.91%
Finance Costs	387,184	456,266	-15.14%
Profit before Taxation	1,104,104	1,304,803	-15.38%
Taxation	409,600	239,270	71.19%
Profit after Taxation	694,504	1,065,533	-34.82%
EPS - Basic and diluted	2.26	3.46	-34.68%

Company release on Earnings Report can be accessed here.

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