By: Shajar Capital Pakistan (Private) Limited
- Attock Petroleum Limited (APL) posted Net Profit after Tax (NPAT) of PkR1.95bn (EPS: PkR23.53) in 9MFY15, down 47%YoY as compared to PkR3.65bn (EPS: PkR44) recorded in 9MFY14.
- Despite 11% YoY in APL volumes during 9MFY15, lower int’l oil prices led to a plummet in net sales by 8%YoY to PkR134bn. COGS declined by only 7%YoY despite the company incurring heavy inventory losses resulting in diminished Gross Margin of 1.97%YoY vs. 3.37% last year, thereby affecting the Gross profit to decline by 46%YoY to PkR2.65bn.
- Other Income also moved south by 12%YoY to PkR891mn. We attribute the decrease to delay in recovery of mark-up against delayed payments during the period.
- Operating expenses on the contrary increased by 21%YoY further burdening the Operating Profit which consequently declined by a massive 57%YoY.
- During 3QFY15, the company reported a profit of PkR484mn (EPS:PkR5.84) vs. earnings of PkR209mn (EPS: PkR2.52) in 2QFY15 (Up 132%dQoQ). However, earnings depict a decline of 51%YoY.
Please share your comments
What's your reaction?
You might also like
Share for your friends' benefit!Attock Cement Pakistan Limited: 9MFY16 EPS expected at PKR17.0/sh – By BMA Research The meeting of the Board of Directors of Attock Cement Pakistan Limited (ACPL) is scheduled on Apr 13’16 to consider financial results for the period ended 9MFY16. We expect the company to post earnings of PKR1.9bn (EPS: PKR17.0) […]
Pakistan Telecom Sector: Regulator steps in to address woes of telecom industry – By Topline Research
Share for your friends' benefit!Pakistan Telecom Sector: Regulator steps in to address woes of telecom industry – By Topline Research Pakistan Telecom Sector: Pakistan Telecommunication Authority (PTA) has issued a consultation paper highlighting the discrepancy in on-net and off-net tariffs offered by Cellular Mobile Operators (CMO) which is leading to unhealthy competition and price wars, […]
Share for your friends' benefit!Kot Addu Power Company Limited (KAPCO) announced its half yearly financial results ended December 2015. During the period under review, the company earned Rs 4.33 billion (EPS: Rs 4.92) profit after tax, which resulted in 10% YoY decline as against Rs 4.83 billion (EPS: Rs 5.49) it achieved last year. The […]