Saturday, January 23, 2021

APL earnings dropped by 64% in 2QFY19

Featured

Who is Joe Biden? – Learn more about the United States 46th President

Who is Joe Biden? The new American president was Barack Obama's deputy for eight years and a senator for...

Macron welcomes US back to the climate agreement

French President Emmanuel Macron tweeted on his Twitter account, directing the tweet to President Joe Biden and Vice President...

Nancy Pelosi: “We are ready to work under the slogan of a united America”

US House of Representatives Speaker Nancy Pelosi said, "We are ready to work under the slogan of a united...
Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]
Attock Petroleum Limited (APL) has announced the financial result for 1HFY19, whereby the company has posted a profit after tax (PAT) of Rs 2.10bn (EPS: PKR 21.13) against Rs 2.81bn (EPS: Rs 28.24) in 1HFY18, down by 25% YoY.

 

- Advertisement -

On a sequential basis, earnings clocked-in at Rs 556mn (EPS: Rs 5.58), down by 62% YoY and 64% QoQ compared to Rs 1.48bn (EPS: Rs 14.87) and Rs 1.55bn (EPS: Rs 15.55), respectively.

 

During 2QFY19, topline of the company settled at Rs 57.72bn, up by 53% YoY on account of higher product prices along with volumetric growth (+7.6% YoY; volumes of Mogas and HSD grew by 24% and 5% whereas FO sales witnessed a steep decline of 50% YoY).

 

Gross margins of the company fell by 392bps YoY to 2.50% in 2QFY19 compared to 6.42% in 2QFY18.

- Advertisement -

 

Despite effective increase in ex-refinery prices in the period under review, decline in gross margins can be attributable to the company recording inventory at lower of cost or net realizable value which resulted in a loss of Rs 500-600mn.

 

Finance cost jumped up by 58% to Rs 216mn given rise in markup charged on delayed payments.

 

The company recorded effective taxation at 34.9% in 2QFY19 compared to 28.2% in SPLY.

 

 

- Advertisement -
Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]
- Advertisement -

Latest News

Who is Joe Biden? – Learn more about the United States 46th President

Who is Joe Biden? The new American president was Barack Obama's deputy for eight years and a senator for...

Macron welcomes US back to the climate agreement

French President Emmanuel Macron tweeted on his Twitter account, directing the tweet to President Joe Biden and Vice President Kamala Harris to welcome the...

Nancy Pelosi: “We are ready to work under the slogan of a united America”

US House of Representatives Speaker Nancy Pelosi said, "We are ready to work under the slogan of a united America". US President Joe Biden has...

Trump using presidential pardon to save potential allies

The renowned newspaper, USA Today, saw that President Donald Trump is using his power to save allies from legal risks, considering that he is...

Biden’s inauguration ceremony: Security on high alert in the American capital

The American capital has been in a state of security alert and tightening precautionary measures, with the approaching hour of the officially elected president...

Related News