National Refinery earns Rs3.96b

KARACHI: National Refinery Limited’s (NRL) net profit increased 37% to Rs3.96 billion in the current fiscal year’s first half ended December 31, 2016 mainly due to application of lower rate of tax on profit.

The company had posted a profit of Rs2.88 billion in the same half of the previous year.

Earnings per share stood at Rs49.62 in the half-year compared to Rs36.07 in the corresponding period of the previous year.

Share price of the fuel oil refinery declined 4.90%, or Rs39.39, and closed at Rs758.63 with a volume of 1.55 million shares.

The company booked a flat profit-before-tax. However, it paid significantly reduced tax on the profit in the period under review.

It booked a profit-before-tax at Rs4 billion in the review period as compared to Rs4.12 billion in the corresponding period.

Published in The Express Tribune, January 28^th, 2017.

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