Attock Petroleum Limited (APL) is scheduled to announce its 9MFY19 financial result on 11th Apr’19. The company is expected to record a PAT of PKR 3,287mn (EPS: PKR 33.03), down by 23% YoY.
Despite overall volumetric decline of 6% YoY (volumes of FO and HSD plunged by 30% and 6% YoY whereas MS witnessed growth of 15% YoY), topline is expected to grow by 39% YoY on the back of massive increase in product prices.
Gross margins to settle at 3.67%, down by 200bps compared to 5.67% on account of heavy inventory losses realized in the period under review.
On a sequential basis, topline of the company is poised to register a decline of 9% QoQ to PKR 52.65bn amid decline in volume of High Speed Diesel by 18% QoQ to 0.17mn tons vis-à-vis 0.21mn tons.
Gross margins are expected to settle at 4.10% in 3QFY19 compared to 5.49% in SPLY amid slowdown in sale of high margin product (FO sales decline by 18% YoY).
In the period under review, Analysts expect company to record inventory gains of PKR 50mn.
