Attock Petroleum jumps in net profit in 9FY22 | Pro IQRA News

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By Hifsa Raja

ISLAMABAD, Aug 4 (INP-WealthPK): Attock Petroleum Limited’s revenue rose 65% to Rs 262 billion in the first nine months of the financial year 2021-22 compared to Rs 159 billion in the corresponding period of the previous year.

Net sales rose 78% to Rs 241 billion in the nine months of FY22 compared to Rs 135 billion in the corresponding period of FY21.

Similarly, its gross profit rose 175% in the nine months of FY22 to Rs 21 billion from Rs 7.66 billion in the corresponding period of FY21.

Net profit increased 207% to Rs 11.24 billion in nine months of FY22 compared to Rs 3.66 billion in the corresponding period of FY21. Net sales reflected increased demand for the company’s products and services due to favorable market conditions, WealthPK said.

Details 31-March-22 31-March-21 Level growth
‘000 PKR apart from EPS ‘000 PKR apart from EPS
Income 262,518,173 159,194,898 65%
Net sales volume 241 036 259 135,698,719 78%
Total profit 21,093,451 7,667,186 175%
Profit from the main activity 17 179 055 5,679,598 202%
Profit before taxation 15,904,445 5,151,269 209%
Net profit 11,246,958 3,664,040 207%
EPS 113.00 36.81 207%
Source: Quarterly report of the company

Annual results 2020-21


As of 30.06.2021

Categories of shareholders Shares are held Interest
Directors, Chief Executive Officer, their spouse(s) and minor children 6,686,471 6.72
Associated companies 72 169 996 72.51
National Investment Trust and Industries Corporation of Pakistan 30,974 0.03
Banks, development financial institutions, non-bank financial institutions, 5,174,268 5.20
Insurance companies 2,314,459 2.33
Modarabas and mutual funds 2,653,064 2.67
a. Local 7,699,155 7.74
b. foreign 84,124 0.08
Trust and funds 1,911,302 1.92
Corporations 808,987 0.81
In total 10,781,100 100.00
Source: financial report of the company

As of June 30, 2021, the directors, the CEO, their spouses and minor children owned 6.72% of the company’s shares. Associated companies, enterprises and related parties owned 72.51% of the shares. National Investment Trust & Industrial Corporation of Pakistan owned 0.03% of the shares. Banks, development financial institutions and non-banking financial institutions held 5.20% of the total number of shares. Insurance companies owned 2.33% of shares. Modarabas and PIFs owned 2.67% of the shares. Public (local) owned 7.74% of the shares, while foreigners had 0.08%. “Others” owned 2.73% of shares.

Financial indicators

During the financial year 2020-21, the company generated net sales of Rs 188.64 billion compared to Rs 201 billion in 2019-20, registering a decline of 6%.

Gross profit for FY21 was Rs 9.98 billion, up 174% from Rs 3.63 billion in FY20.

In FY21, there was an increase in operating profit. Profit after tax for FY21 was Rs 4.91 billion compared to Rs 1 billion in FY20, an increase of 388%.

Attock Petroleum Limited – ANNUAL SUMMARY
Details 30-June-21 30-Jun-20 Level growth
‘000 PKR apart from EPS ‘000 PKR apart from EPS
Net sales revenue 188,645,375 201 078 720 -6%
Total profit 9,981,941 3,637,890 174%
Profit from the main activity 7,499,729 1,083,793 592%
Profit before taxation 6,939,058 1,503,086 362%
Profit after tax 4,919,632 1,008,294 388%
EPS 49.43 10.13 388%

Earnings per share

Earnings per share (EPS) have seen a mixed trend in recent years. However, in 2017, the EPS showed a significant increase to Rs 63.89. But then it went down to Rs 10.13 in 2020. Earnings per share registered healthy growth in 2021 to Rs 49.43.

Profit or loss over many years

Net sales showed stability from 2016 to 2019. But in 2020 there was a decline due to quarantines caused by the Covid-19 pandemic. In 2021, net sales declined further, but there was an increase in gross profit compared to 2020.

Attock Petroleum Limited was incorporated in Pakistan as a public limited company on 3 December 1995 and commenced operations in 1998. The main activity of the company is the purchase, storage and marketing of oil and related products.