Attock Petroleum Limited (PSX:APL) has reported its annual financial results for the year ending June 30, 2024.

The company reported a net income of Rs. 111.1 per share and declared a total cash dividend of Rs. 27.5 per share.

On an annual basis, revenue increased by 11%, while gross profit decreased by 15%. Profit before tax rose by 12%, primarily due to a significant increase in finance income, which was 2.85 times higher than the previous year. The profit after tax increased by 11%. The tax rate remained steady at 39%, consistent with the previous year.

In the last quarter (Q4 June 2024), APL earned a net income of Rs. 24.4 per share and declared a cash dividend of Rs. 17.5 per share. However, the profit after tax in the last quarter decreased by 9% compared to the average of the last four quarters.

APL also holds small stakes in National Refinery Limited (1%) and Attock Refinery Limited (1.68%). The company benefits from substantial short-term investments in current assets, which contribute to its financial income.

APL is currently trading at a price-to-earnings ratio of 3.8, with a dividend yield of 6.50%. The company has a 0.43% exposure in the KSE100 Index but no exposure in the KSE30 and KMI30 Indices.

The largest shareholders of APL include Pharaon Investment Group Limited (Holding) s.a.l with 34.38% holding. In PSX listed companies, Attock Refinery Ltd (ATRL) holds 21.88%, of APL and Pakistan Oilfields Ltd (PO) holds 7.02%.

https://dps.psx.com.pk/download/document/236183.pdf