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Monday September 26, 2022

Attock Petroleum full-year profit surges 277pc

By Our Correspondent
August 17, 2022

KARACHI: Attock Petroleum Limited (APL) on Tuesday reported a massive 277 percent increase in its full-year net profit, mainly fueled by strong sales and lower government taxes.

The company posted a net profit of Rs18.536 billion for the year ended June 30, 2022, compared to Rs4.919 billion earned in the previous year, according to a bourse filing.

The oil marketing company (OMC) also announced a final cash dividend of Rs30/share in addition to an interim cash dividend of Rs15 a share, already paid.

The OMC also announced 25 percent bonus shares or one share for every four shares.

Earnings per share came in at Rs186.23/share, compared with Rs49.43/share last year. The company’s sales for the year rose to Rs398.383 billion, compared with Rs221.333 billion a year earlier.

The OMC attributed this surge to lower rates of tax and levies, which clocked in at Rs28.308 billion for the period under review from Rs32.688 billion a year ago. Other income also remained higher to Rs1.622 billion from Rs1.260 billion a year ago, the company said in its statement to Pakistan Stock Exchange.

Attock Refinery’s FY22 profit jumps 11-fold

Attock Refinery Limited enjoyed a more than 11 times increase in its profits for the full-year. The company reported a net profit of Rs12.952 billion for the year ended June 30 compared to Rs1.067 billion in the previous year.

The refiner also announced a final cash dividend of Rs10/share. Earnings per share (EPS) came in at Rs121.49/share, compared with EPS of Rs10.01/share last year.

Its gross sales for the year rose to Rs305.519 billion, compared with Rs192.361 billion a year earlier, while taxes and duties decreased to Rs43.412 billion from Rs64.525 billion a year ago.

POL full-year profit up 74pc

Pakistan Oilfields Limited (POL) said its annual net profit for the year ended on June 30, 2022 jumped 74 percent to Rs26.776 billion from Rs15.402 billion, posted last year, on sales strength.

In a statement to the Pakistan Stock

Exchange, the company also announced a

final cash dividend of Rs50 for the year in addition to an interim cash dividend of Rs20 paid already.

Earnings per share came in at Rs94.28/share, compared with Rs54.24/share last year. Its sales for the year rose to Rs59.934 billion from Rs40.424 billion a year earlier, while other income increased to Rs11.211 billion, compared to Rs1.516 billion during the same period last year.

National Refinery annual profit soars 412pc

National Refinery Limited posted a 412 percent increase in its profits for the full-year which it attributed to higher sales.

The company reported a net profit of Rs9.079 billion for fiscal year 2021-22, up from Rs1.770 billion in the previous year.

The company announced a final cash dividend of Rs15 per share.

EPS came in at Rs113.53/share, compared with EPS of Rs22.14/share last year.

The company said its gross sales for the year rose to Rs285.238 billion, from Rs196.579 billion, a year earlier, while taxes and duties decreased to Rs33.362 billion from Rs56.954 billion a year ago.

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