October 21, 2022 (MLN): Pakistan Refinery Limited (PRL) has reported a net profit worth Rs1.03 billion (EPS: Rs1.63) for the 1QFY23 ended on September 30, 2022, compared to a net loss of Rs378 million (EPS: Rs-0.6) in 1QFY22.
This turnaround is mainly on the back of higher revenue in this quarter.
According to the financial statement sent to PSX, the topline of the company surged to Rs73.11bn during this period, 105.20% higher than Rs35.63bn in the same period last year (SPLY). As a result, the gross margins expanded to 2.20% YoY from 1.33% YoY in SPLY.
With regards to major expense heads, the company posted 133.10% YoY higher operating expenses which stood at Rs108mn while the company witnessed a 77.29% YoY and 12.52% YoY rise in its administrative and distribution expenses, respectively.
Similarly, the finance cost of the company also went up by 39.65% YoY to clock in at Rs632mn in 1QFY23 on an account of an increase in the policy rate.
On the taxation front, the company paid Rs256mn, up by 36.33% YoY during the review period, compared to Rs188mn in SPLY.
At the time of writing, the scrip of the company is being traded at Rs18.05, up by Rs0.62 or 3.56% DoD.
Copyright Mettis Link News
Posted on:2022-10-21T15:14:03+05:00
35558
