April 24, 2025 (MLN): Pakistan Refinery Limited (PRL) has reported a net loss of Rs4.59 billion for the nine months ended March 31, 2025, compared to a profit of Rs5.27bn in the same period last year.
According to the company’s unaudited financial results, revenue from contracts with customers increased slightly by 1.86%, reaching Rs235.96bn, up from Rs231.64bn last year.
However, this marginal increase in revenue was overshadowed by a significant rise in the cost of sales, which grew by 7.76% to Rs235.67bn, leading to a drastic 97.74% decline in gross profit to just Rs292.9m from Rs12.94bn.
Selling expenses rose by 32.34% to Rs591.95m, while administrative expenses increased by 13.91%, totaling Rs1.05bn.
Other operating expenses were reduced by 32.12% to Rs2.56bn, but this was accompanied by a 29.81% fall in other income, which stood at Rs2.42bn.
As a result, the company posted an operating loss of Rs1.49bn, a stark contrast to the operating profit of Rs11.25bn recorded during the same period last year—a decline of 113.21%.
Finance costs decreased slightly by 4.91% to Rs2.82bn, while the share of income from associates fell significantly by 79.03% to Rs4.13m.
The company recorded a pre-tax loss of Rs4.3bn compared to a profit of Rs8.31bn in the previous year.
Final and minimum tax increased sharply by 649.57% to Rs1.39bn. However, the overall taxation impact was partially offset by a tax credit of Rs1.1bn.
Overall, the company reported a total comprehensive loss of Rs4.59bn for the period.
Basic and diluted loss per share stood at Rs7.29, down from earnings of Rs8.36 per share in the corresponding period last year.
| Financial Results for the Nine Month Ended March 31, 2025 | |||
| Description | Mar-25 | Mar-24 | %Change |
| Revenue from contracts with customers | 235,961,057 | 231,643,980 | 1.86% |
| Cost of sales | (235,668,153) | (218,701,797) | 7.76% |
| Gross profit / (loss) | 292,904 | 12,942,183 | -97.74% |
| Selling expenses | (591,946) | (447,297) | 32.34% |
| Administrative expenses | (1,045,222) | (917,594) | 13.91% |
| Other operating expenses | (2,564,179) | (3,777,687) | -32.12% |
| Other income | 2,421,911 | 3,450,742 | -29.81% |
| Operating (loss) / profit | (1,486,532) | 11,250,347 | |
| Finance cost | (2,817,584) | (2,963,020) | -4.91% |
| Share of income of associate (equity method) | 4,128 | 19,687 | -79.03% |
| (Loss) / profit before Taxation | (4,299,988) | 8,307,014 | |
| Final Tax and Minimum Tax | (1,388,712) | (185,268) | 649.57% |
| Taxation | 1,096,416 | (2,852,235) | |
| (Loss) / profit for the period | (4,592,284) | 5,269,511 | |
| Other comprehensive income / (loss) | – | – | |
| Total comprehensive (loss) / profit | (4,592,284) | 5,269,511 | |
| (Loss) / earnings per share – basic and diluted | (7.29) | 8.36 | |
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Posted on: 2025-04-24T11:36:04+05:00
