April 19, 2023 (MLN): The net profit of Pakistan Refinery Limited (PRL) has slashed by 53.26% YoY to clock in at Rs2.53 billion (EPS: Rs4.02) for the period of nine months ended on March 31, 2023, compared to Rs5.41bn (EPS: Rs8.6) in 9MFY22, the company’s filing on PSX showed today.
During the review period, the topline of the company surged to Rs189.9bn, up by 70%, compared to Rs111.6bn in 9MFY22.
With regards to major expense heads, the company encountered a 40.64% YoY administrative cost which stood at Rs566mn whereas the operating expenses of the company plunged by 43% YoY to Rs319.98mn in 9MFY23.
Similarly, the finance cost of the company also inflated around 2x YoY to clock in at Rs3.18bn in 9MFY23.
On the taxation side, the company paid Rs1.57bn during the review period, compared to Rs1bn in SPLY.
|
Profit and Loss Account for the 9 months ended on 31 March 2023 ('000 Rupees) |
|||
|---|---|---|---|
|
Mar-23 |
Mar-22 |
% Change |
|
|
Revenue from contracts with customers |
189,903,949 |
111,637,657 |
70.11% |
|
Cost of sales |
(183,729,747) |
(103,031,952) |
78.32% |
|
Gross Profit |
6,174,202 |
8,605,705 |
-28.25% |
|
Distribution costs |
(291,998) |
(239,074) |
22.14% |
|
Administrative expenses |
(566,107) |
(402,509) |
40.64% |
|
Other operating expenses |
(319,987) |
(556,781) |
-42.53% |
|
Other income |
2,292,840 |
151,804 |
1410.39% |
|
Operating profit |
7,288,950 |
7,559,145 |
-3.57% |
|
Finance cost |
(3,177,185) |
(1,114,745) |
185.01% |
|
Share of loss of associated accounted for using the equity method |
(10,347) |
261 |
– |
|
Profit before taxation |
4,101,418 |
6,444,661 |
-36.36% |
|
Taxation |
(1,570,204) |
(1,029,423) |
52.53% |
|
Profit after taxation |
2,531,214 |
5,415,238 |
-53.26% |
|
Earnings per share – basic and diluted (rupees) |
4.02 |
8.60 |
-53.26% |
Copyright Mettis Link News
Posted on: 2023-04-19T14:28:27+05:00
