Karachi November 02 2021: Pakistan Refinery Limited performance for the quarter ended September 30, 2021, it transpires that financial results are heavily impacted when Pak Rupee depreciated significantly during the quarter by 7.52 percent, causing an exchange loss of PKR 806 million, as per company’s management.
The management is hopeful to recover some portion of this exchange loss through pricing mechanism.
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Resultantly, current quarter ended with loss after tax of PKR 378 million as against profit after tax of PKR 282 million in the corresponding quarter.
PRL remains committed to execute Upgrade Project to produce EURO V complaint environment friendly fuels and convert Fuel Oil to produce valued added products. Best available options are being scrutinized, ensuing which the Company will make the strategic decision.
Pakistan Refinery along with other refineries, remained engaged with the government for the finalization of the Refining Policy. It is expected that the concerted efforts made in getting the policy approved will bear fruit and the said policy will support refining sector in upgradation to produce high quality environment friendly fuels.
