Attock Petroleum announced an interim cash dividend of PKR 12.50/share in 2QFY25

  • Attock Petroleum Limited (APL) announced the financial result for 1HFY25, whereby the company has posted a net profit of PKR 5,123mn (EPS: PKR 41.18) against PKR 7,800mn (EPS: PKR 62.69) in 1HFY24, down 34% YoY. During 2QFY25, the bottom line settled at PKR 2,739mn (EPS: PKR 22.01), up 8% YoY. Alongside the result, the company announced an interim cash dividend of PKR 12.50/share in 2QFY25 (PKR 10.00 in 2QFY24).

Result Highlights       

  • Net sales during 1HFY25 declined by 15% YoY, clocking in at PKR 232bn, which is owed to i) lower average retail price of petroleum products and ii) reduction in MS and FO offtake by 2% and 60% YoY, respectively. On a quarterly basis, the topline settled at PKR 119bn, down 12% YoY amid a fall in MS and HSD prices coupled with a decline in MS and FO dispatches by 5% and 89% YoY, respectively. Meanwhile, HSD sales improved by 6% YoY.
  • The gross margins of the company reduced by 144bps YoY to 3.48% in 1HFY25. On the other hand, the gross margins in 2QFY25 arrived at 3.4% vis-à-vis 2.3% in SPLY owed to inventory gains during the quarter.
  • The operating expenses during 1HFY25 increased by 7% YoY, arriving at PKR 4,130mn due to higher depreciation charges.
  • Finance income in 1HFY25 depicted a decrease of 8% YoY to PKR 4,058mn on the back of reduction in income from cash and cash balances.
  • Finance cost increased by 29% YoY to PKR 997mn in 1HFY25, given the higher markup charged for late payments during the period.
  • The company recorded effective taxation at 34.73% in 2QFY25 vis-à-vis 36.23% in 2QFY24.

Courtesy – AHL Research

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