Attock Petroleum Posts Highest Ever Profit of Rs. 18.5 Billion in FY22

Attock Petroleum Limited (APL) has announced its highest ever annual profit after tax of Rs. 18.5 billion for the period that ended on June 30, the financial year 2021-2022.

According to the company’s financial results, the company’s profit saw an increase of 277 percent year-over-year (YoY), as compared to Rs. 4.919 billion in the same period last year. Along with the result, APL announced earnings per share (EPS) of Rs. 186.23 for the period under review, up by more than three times compared to Rs. 49.43 reported last year.

Net sales of the company increased by 96 percent YoY to Rs. 370.07 billion during the period under review from Rs. 178.66 billion in the same period last year on account of 25 percent and 22 percent YoY increase in HSD and Petrol volumetric sales, and a 174 percent and 146 percent YoY increase in HSD and Petrol average prices, according to a report by Ismail Iqbal Securities. Due to the imposition of the Super Tax, the effective tax during the quarter was recorded at 50 percent.

On a wider scale, gross profits increased by 311 percent to Rs. 41 billion from Rs. 9.98 billion during the period in review.

APL’s financing cost was reported at Rs. 1.58 billion as compared to Rs. 1.418 billion in FY21. The company also declared a final cash dividend of Rs. 30 per share and also announced 25 percent bonus shares.