Byco Petroleum’s Profits Jump by 55% YoY

Byco Petroleum Pakistan Ltd. today released Financial Results for the year ended 30th June, 2017 after approval from Board Members at 20th December.

Profitability for Byco increased significantly during the year as profit for the period went up by 55% to reach Rs. 2.12 billion as compared to Rs. 1.36 billion in the same period last year.

The earning per share of the company saw a decline of 71.43% to Rs. 0.40 as compared to Rs. 1.40 in the same period last year.

The bourse filing said finance costs decreased 3.77% to Rs. 2.43 billion from Rs. 2.53 billion last year.

The company’s turnover went up by a decent margin as well, as the company reported Rs. 88 billion worth of Sales during 2017 against Rs. 77.57 billion in 2016.

Byco’s profit before taxation went up as well, suggesting efficiency in operations.

At the time of filing this report, BYCO’s script at the bourse was trading at Rs. 11.70 down by -4.57% with the KSE-100 up by +127.30 points, trading at 38,335 points.

About Byco Petroleum

Byco Petroleum Pakistan Limited (BPPL) is one of Pakistan’s leading energy firms, engaged in the businesses of oil refining, petroleum marketing, and petroleum logistics.

They also restarted production of their 120,000 bpd refinery and installed a new crude charge heater/furnace, which was said to be vastly improved and efficient alongside being equipped with modern safety/security controls.

Byco Petroleum’s Single Point Mooring has imported 5 million tons of crude oil since its inception. It has been in continuous operation since 2012, including the severe monsoon season from June through September, which was previously considered impossible for the area.

Byco’s SPM is Pakistan’s only floating terminal and revolutionizes the handling of crude oil and refined petroleum products in the country.

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