Attock Petroleum Limited (APL) is scheduled to announce its 1QFY22 financial result on October 21st, 2021. The company is expected to record a PAT of PKR 2,177mn (EPS: PKR 21.87) in 1QFY22, massively up by 47% YoY and 73% QoQ. Topline is expected to increase by 51% YoY on the back of increasing product prices and volumetric growth of 17% YoY (MS, HSD and FO volumes increased by 27%, 41% and 13% YoY).

Gross margins are expected to settle at 5.71% during 1QFY22 compared to 6.78% in SPLY. We expect company to record inventory gains of PKR 1.4bn compared to inventory gains of PKR ~450mn in preceding period last year.

On a sequential basis, topline is expected to register growth of 28% QoQ on account of volumetric growth of 22% QoQ (volumes of FO, MS and HSD increased by 83%, 17% and 6% QoQ). Finance income is expected to increase by 7% QoQ due to higher mark up on delayed payments and rise in income from bank deposits.

Courtesy – AHL Research