Islamabad February 25 2025: Attock Petroleum Limited (APL) in collaboration with NEECA is working to create EV charging infrastructure in Pakistan and has submitted a proposal to standardize EV charging policies, according to company latest financials.
Share price of the company increases PKR 12.75 or 2.76 percent (PST 11:20) in todays trading at Pakistan Stock Exchange.
APL is actively engaged with key stakeholders, including the Engineering Development Board, NHA, NEECA, and NEPRA, to formulate policies for the development of EV stations nationwide. Through ongoing meetings and correspondence, the Company is ensuring mutually beneficial outcomes for all parties involved.
In collaboration with NEECA, APL is also working to create EV charging infrastructure in Pakistan and has submitted a proposal to standardize EV charging policies. These initiatives reflect APL’s commitment to fostering a safe, healthy, and sustainable environment by reducing carbon footprints and promoting energy conservation, while contributing to national and global climate goals.
APL is expanding its retail network nationwide, targeting key motorway and urban locations to enhance brand visibility and optimize traffic flow. By investing in prime motorway service areas, the Company seeks to strengthen its market position and drive growth in high-impact corridors. APL now operates 816 multifuel retail sites, including 44 Company-Owned Company-Operated (COCO) outlets, following the addition of 18 new retail outlets.
Further, with renewed focus on brand presence in Khyber Pakhtunkhwa, APL’s 19 sites are currently at various stages of development. Efforts are being concentrated on establishing new sites in key population centers, including Peshawar, Mardan, Nowshera, and Swat. A Company-Owned Company-Operated (COCO) site at Hazara Service North on (E-35) has been added to strengthen our presence on national motorways, while the southbound site is under construction and expected to be operational by April 2025. In the Rawalpindi region, new sites are nearing completion including Bahria Town Phase 8 (Rafi Block), Asghar Mall Road and Main Markaz in B-17, Islamabad. Additionally, construction is going on Askari 14, Rawalpindi site, with completion anticipated by end of FY 2024-25. In Lahore, APL is expanding its network with new sites under development on Wahdat Road and Lake City.
To enhance brand equity in Karachi, APL is developing new outlets in Korangi Industrial Area, Naval Colony Road, M.A. Jinnah Road, Gulshan-e-Maymar and a COCO site on the M-9 Karachi- Hyderabad Motorway, scheduled for completion by mid-January 2025. In Quetta, construction commenced in April 2024 on a site located on Zarghoon Road, developed in collaboration with Askari Fuels (Askari Welfare Trust), further expanding APL’s footprint in Baluchistan.
Recognizing the strategic importance of diversifying revenue streams and aligning with evolving economic trends, APL is venturing into the sale of Liquefied Petroleum Gas (LPG). The LPG storage facility with a storage capacity of 203 M. Tons and a daily filling capacity of 50 M. Tons, at the Rawalpindi bulk oil terminal is nearing completion. The facility is expected to be fully operational by the end of the FY 2024-25.
During the six-month period ended December 31, 2024, the Company reported a profit after tax of PKR 5,123 million (December 2023: PKR 7,800 million), representing a 34% decrease compared to the same period last year. Earnings per share for the period stood at PKR 41.18 (December 2023: PKR 62.69).
