Attock Refinery’s profits rise 166 percent

KARACHI: Attock Refinery Limited (ARL) has announced net profits of Rs2.738 billion, translating into the earnings/share (EPS) of Rs32.11 for the half-year ended December 31, 2016, which is 166 percent higher than the profits of Rs1.029 billion and the EPS of Rs12.07 announced during the same period of the last year.

The surge in profitability can be attributed to higher net sales, which stood at Rs45.51 billion for the period under review as compared to the sales of Rs42.037 billion during the same period of the last year.

Refinery’s other income also surged 13 percent to Rs537.6 million during the period under review.

For the quarter ended December 31, 2016, the company posted a profit-after-tax of Rs1.51 billion and the EPS of Rs17.72 as compared to the profits of Rs500.91 million and the EPS of Rs5.87 during the same period of the last year.

Attock Refinery did not announce any payouts along with the corporate results.