Hascol profit surges 86pc

KARACHI: Hascol Petroleum Limited has announced a net profit of Rs376.726 million for the quarter ended March 31, 2017, showing a growth of 86 percent as compared to the profit of Rs202.209 million during the corresponding quarter of the last year, a bourse filing said on Friday.

The earnings per share (EPS) stood at Rs3.12 for the period as compared to Rs1.68 last year. The company did not announce any payouts along with the corporate results. “The results depict fast paced market capture by Hascol during this tenure, especially in white oil segment,” Faizan Ahmed said in a report issued by JS Global.

The surge in profitability can be attributed to 71 percent increase in sales revenue, which stood at Rs42.802 billion for the quarter as compared to Rs20.2 billion during the same period of the last year.