Karachi October 18 2024: National Refinery Limited has reported a loss of PKR 7.2 billion for the first quarter of fiscal year 2025, a sharp contrast to the profit of PKR 3.2 billion recorded in the same period last year, as per the company’s filing with the Pakistan Stock Exchange.
This marks the third instance within the past year where the company’s quarterly losses have exceeded the PKR 7 billion threshold.
In today’s trading at the Pakistan Stock Exchange, the refinery’s share price fell by PKR 4.89, or 2.25%.
The company posted a gross loss of PKR 6.3 billion and incurred financial charges amounting to PKR 2.9 billion during the quarter.
National Refinery Limited was incorporated in Pakistan on August 19, 1963 as a public limited company. The Company is engaged in the manufacturing, production and sale of a large range of petroleum products. The refinery complex of the Company comprises of three refineries, consisting of two lube refineries, and a fuel refinery added to the complex. The company has also commissioned Diesel Hydro De-sulphurisation (DHDS) and Isomerisation (ISOM) units during the financial years 2017 and 2018 respectively.
