Attock Petroleum posts profit of Rs4.9 billion

Web DeskWeb Editor

11th Aug, 2021. 07:12 pm

KARACHI: The Attock Petroleum Limited (APL) has earned a net profit of Rs4.9 billion for the year ended June 30, 2021, which is multiple times higher than the profit of Rs1.01 billion recorded in FY20, a bourse filing said on Wednesday.

The earnings per share (EPS) for the year clocked-in at Rs49.43, compared with the EPS of Rs10.13 in the previous year.

The Attock Petroleum Limited also declared a final cash dividend of Rs24.50/share, which is in addition to the interim dividend of Rs2.5/share already paid to the shareholders.

The sales revenue of the company settled at Rs53 billion for the fourth quarter of FY21, up 52 per cent, due to the growth in the overall sales volume by 19 per cent and higher prices of petroleum products in the period under review.

During FY21, the topline registered a decline of 6 per cent to Rs221.30 billion against Rs235.70 billion previously, due to lower selling prices of petroleum products.

“We view noteworthy changes in ex-refinery prices that resulted in the inventory gains of Rs400 million in the fourth quarter of FY21, compared with the inventory loss in the same period last year. During FY21, the company recognised inventory gains of Rs1.5 billion,” an analyst at Arif Habib Limited said.

Meanwhile, the finance costs dropped 35 per cent to Rs304 million, owing to a decline in the interest rates.

Attock Cement’s profit down 7.4 per cent

The Attock Cement Limited has announced a net profit of Rs2.37 billion for the year ended June 30, 2021, which is 7.4 per cent lower than the profit of Rs2.56 billion recorded in FY20.

The earnings per share (EPS) for the year clocked-in at Rs13.61, compared with the EPS of Rs14.43 in the previous year. The company did not declare any payout along with the financial results.

The sales revenue for the year clocked-in at Rs28.60 billion, up 19.60 per cent from Rs23.94 billion in the previous year. The distribution costs surged 21.19 per cent to Rs2.23 billion, which took its toll on the bottom line.

Other income declined marginally to Rs136.80 million in FY21, while the finance cost stood at Rs722.90 million, compared with Rs526 million in FY20.

Attock Refinery announces profit of Rs1.06 billion

The Attock Refinery Limited (ARL) has announced a net profit of Rs1.06 billion for the year ended June 30, 2021, as against the loss of Rs4.68 billion recorded in FY20.

The earnings per share (EPS) for the year clocked-in at Rs10.01, compared with the loss per share (LPS) of Rs43.95 in the previous year. The company did not declare any payout along with the financial results.

The sales revenue for the year clocked-in at Rs127.83 billion, up 6.58 per cent from Rs119.90 billion in the previous year.

Other income declined 48 per cent to Rs1.48 billion in FY21, while the finance cost stood at Rs852 million, compared with Rs1.06 billion in FY20.

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