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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