KARACHI: Attock Petroleum Ltd recorded a net profit of Rs7.29 billion in the April-June quarter, up 5.8 times from a year ago.

A regulatory filing on Tuesday showed the oil marketing company posted an annual income of Rs18.53bn in 2021-22, up 277 per cent from the preceding financial year.

The company also announced a final cash dividend of Rs30 per share, which took the total payout for 2021-22 to Rs45 apiece.

According to Arif Habib Ltd, higher product prices along with volumetric growth helped the company grow its quarterly sales to Rs129bn, up 144pc year-on-year. On a quarter-on-quarter basis, the company’s top line jumped 49pc amid a hike in petroleum prices and 22pc growth in the volumes of petroleum products.

The company recorded effective taxation at 50.43pc in the quarter under review versus 29.77pc a year ago. The taxation during the April-June quarter included super tax imposed on the profit-before-tax of 2021-22, said the brokerage house.

POL quarterly earnings soar

Pakistan Oilfields Ltd recorded a net quarterly profit of RsRs8.44bn, up 1.3 times on an annual basis, a stock notice said on Tuesday.

The company’s earnings for 2021-22 clocked in at Rs25.93bn for 2021-22, up 95pc on a year-on-year basis.

“The result was higher than our expectations on account of a lower-than-expected taxation charge during the final quarter,” said AKD Securities in a note to investors.

Along with the result, the company declared a cash dividend of Rs50 per share, which is in addition to the Rs20 per share payout announced earlier.

The company reported an effective tax rate of 25.1pc for the final quarter versus 30.3pc in the earlier quarter.

NRL profit crosses Rs9bn

Earnings of National Refinery Ltd rose 5.13 times in 2021-22 to Rs9.08bn, the company said in a stock notice on Tuesday.

It also announced a final cash dividend of Rs15 per share. The refiner’s net sales for the financial year clocked in at Rs251.8bn, up 80.4pc on a year-on-year basis.

ARL income surges 12 times

Consolidated profit of Attock Refinery Ltd for 2021-22 clocked in at Rs12.95bn, up 12.13 times on an annual basis, a stock notice showed on Tuesday.

The company also declared a cash dividend of Rs10 per share. Its net sales grew more than two times and amounted to Rs262.1bn in the last financial year.

EFU Life income tumbles

EFU Life Assurance reported a net profit of Rs164.5 million for the April-June quarter, down 53pc from a year ago.

According to a notice on the stock exchange on Tuesday, the life insurer also declared a cash dividend of Rs1.50 per share, which is in addition to another Rs1.50 dividend announced in the preceding quarter.

Denting the company’s bottom line, the quarterly income tax expense rose almost three times on a year-on-year basis to Rs422.3m.

Published in Dawn, August 17th, 2022

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