Substantial rise in cost of sales turns ATRL's profits into losses

Mar-19

Mar-18

% Change

Gross sales

                  170,709,760

                  125,203,854

36.35%

Taxes, duties, levies and price differential

                  (39,851,370)

                  (36,200,929)

10.08%

Net sales

                  130,858,390

                     89,002,925

47.03%

Cost of sales

                (133,884,086)

                  (88,440,189)

51.38%

Gross profit/(loss)

                     (3,025,696)

                           562,736

Administrative expenses

                        (517,100)

                        (478,956)

7.96%

Distribution cost

                           (35,589)

                           (36,226)

-1.76%

Other charges

                                      -  

 -

Other income

                       2,042,090

                       1,455,186

40.33%

Operating profit/(loss)

                     (1,536,295)

                       1,502,740

Finance cost

                     (3,973,736)

                     (2,008,022)

97.89%

Profit/(loss) before taxation from refinery operations

                     (5,510,031)

                        (505,282)

990.49%

Taxation

                       1,279,040

                           234,469

445.50%

Profit/(loss) after taxation from refinery operations

                     (4,230,991)

                        (270,813)

1462.33%

Income from Non-refinery operations less applicable charges and taxes

                       1,155,866

                       1,498,839

-22.88%

Profit/(loss) for the year

                     (3,075,125)

                       1,228,026

Earnings (loss) per share - basic and diluted (rupees):

Refinery operations

                             (39.68)

                               (2.54)

Non-refinery operations

                               10.84

                               14.06

-22.90%

                             (28.84)

                               11.52