Islamabad April 28 2022 During the nine months period ended March 31, 2022, the Attock Refinery Limited supplied 1,348 thousand Metric Tons of various petroleum products when compared with 1,359 thousand Metric Tons, according to information provided by the company.
ATRL operated at about 78% of the capacity against 76% during the same period last year.
Despite multiple challenges caused by uncertainty in global prices of petroleum products and supply chain management issues as well as political instability in the country, the management was able to ensure smooth supply of petroleum products.
During the nine months period ended March 31, 2022, the Company earned profit after tax of Rs 2,840 million from refinery operations (March 31, 2021: Loss of Rs 1,129 million). Non-refinery income during this period was Rs 947 million (March 31, 2021: Rs 120 million). Accordingly, overall profit after taxation was Rs 3,787 million with earning per share of Rs 35.52 (March 31, 2021: Loss of Rs 1,009 million with loss per share of Rs 9.46).
During this period global prices of crude oil and petroleum products remained volatile. This factor resulted in an overall inventory gain to the Company. However, there was substantial increase in overall operating cost due to increase in energy and financing costs and depreciation of Pak Rupee.
To manage increase in pricing of petroleum products in the country, the Government has frozen ex-refinery prices of some products. The resultant differential in pricing will be reimbursed to refineries through a mechanism approved by the Government. The Company’s receivable on this account as at March 31, 2022 was Rs 226 million. Company hope that these amounts would be paid by the Government in due course of time.
