ATRL: Second Quarter (Dec22) Earning Released. EPS Rs. 75.6. No dividend was announced.
Twelve trailing months EPS now Rs. 221. Compare this with ATRL market price of Rs. 166 per share.
ATRL earned a Net Income of Rs. 8056 million for the second quarter ending Dec 22, up 10.4% on previous quarter (Sep22) and staggering 5.6 times on same quarter last year.
Revenue however declined by 9.3% over previous quarter (Sep22), though Gross profit increased by 9.8%. The company increased revenue by 66% compared to same quarter last year (Dec21).
The profitability of the company has been boosted by 'Spreads between prices of products and crude oil which started to improve last year maintained the same trend during
the second quarter of the current year'.
The Company supplied 895,000 Metric Tons of various petroleum products while
operating at about 79% of the capacity in the first half of this financial year.
During the
month of December 2022, the Company faced reduced demand of furnace fuel oil forcing the company to shut down one of its main distillation unit for a few days.
The Company derives its income both from refinery and non-refinery operations. In last few quarters non-refinery income has not been substantial compared to core refinery income. But in the past, ATRL has been able to cover losses sustained in refinery operations from non-refinery income.
ATRL is trading at PE and PB of less than 1. Its market price had made a 52-week high of Rs. 183. Its market price is up 38% in one year compared to negative 3.5% return of KSE100 Index.
Company Ticker: ATRL
Market Cap: Rs. 17.7 billion
Shares Issued: 106.6 million
Free Float: 40%
Financial Year End: June
Attock Refinery holds 19.9 mill shares (25%) of National Refinery Ltd (listed on PSX:NRL), and 21.77 mill shares (21.88%) of Attock Petroleum Ltd (PSX:APL)
Attock Refinery Limited was incorporated in 1978 and was listed on Karachi Stock Exchange in 1980.
The company is engaged in the business of refining crude oil and produces a range of petroleum products including motor gasoline, diesel, jet fuel, LPG, and asphalt.
Its plant is located at Morgah, Rawalpindi, Pakistan.
The Attock Oil Company Limited holds 60% shares of Attock Refinery Limited.
See Company's website: www.arl.com.pk
More info at PSX: https://dps.psx.com.pk/company/ATRL
ATRL Share Price Chart:
