Karachi February 7 2023: Pakistan Refinery Limited reported loss of PKR 268 million in December 2022 ended quarter as margins drop 89 percent, according to company filing to Pakistan Stock Exchange.
Pakistan Refinery share price drop 25 paisa or 1.83 percent after the announcement at Pakistan Stock Exchange.
The refinery earned gross profit of PKR 104 million in the December ended quarter when compared with gross profit of PKR 976 million in the corresponding period last year due to higher refinery margins.
“The Company remains committed to the Refinery Expansion and Upgrade Project (REUP) and in this regard work is progressing as per plan on the Front-End Engineering Design (FEED) and so is the Consortium of Financial Advisor working on their deliverables” says Company Chairman Tariq Kirmani.
“Pakistan Refinery Limited, along with other refineries, continues to be engaged with the Government for the finalization of the Refining Policy, which once approved will support the refining sector” says Company Chief Executive Officer Zahid Mir.
About the Company
Pakistan Refinery Limited was incorporated in Pakistan as a public limited company in May 1960. The company is engaged in the production and sale of petroleum products.
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