April 11, 2019 (MLN): Attock Refinery Limited (ARTL) reported its financial results for the nine months ended on March 2019 on Thursday, as per which it has incurred losses of Rs 3 million as compared to the same period last year where it reported net profits of Rs1.2 million.
During the period, the company's cost of sales increased substantially by 51% which was the main factor in turning the company's profits into losses.
Moreover, the company’s other expense heads i.e. Administration cost increased by 8%, finance cost by 98% and taxes increased by 445%, all of these further helped in increasing company's losses.
The company reported its loss per share at Rs 28.84.
Consolidate profit and loss account for the nine months ended March 31st 2019 ('000 Rupees) |
|||
---|---|---|---|
|
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 |
|
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