Attock Refinery Limited (ATRL) has posted a substantial increase in its earnings for the first half of fiscal year 2024 (1HFY24), reporting a profit after tax of Rs17.56 billion [EPS: Rs164.7].


This compares to a profit of Rs15.91 billion [EPS: Rs149.21] in the same period last year. The Board of Directors (BoD) has also declared an interim cash dividend of Rs2.50 per share (25%) for the review period.

The company’s top line witnessed an 18.12% YoY surge to Rs270.29 billion compared to Rs228.83 billion in the same period last year. Despite a significant increase in taxes, duties, levies, and price differentials towards sales, the net revenue reached Rs205.96 billion, reflecting growth from the Rs189.03 billion recorded in 1HFY23. The gross profit improved by 0.33% YoY to Rs21 billion.

Operating expenses, including distribution cost, other expenses, and administrative expenses, also increased during the review period. ATRL’s profitability growth was supported by increased other income and the share of profit of associates, reaching Rs7.49 billion and Rs1.65 billion, respectively, in 1HFY24.

The company reported an impairment reversal on financial assets of Rs24.43 million, contrasting with an impairment loss of Rs26.86 million in 1HFY23. ATRL reported a net finance income of Rs85.53 million, compared to a net finance cost of Rs213.34 million in the same period last year.

The company paid a higher tax of Rs10.01 billion, representing a 40.43% YoY increase.

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