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 30th 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.
