PRL posts net profit of Rs375m in Jan-Mar

Earnings are 42% lower year-on-year, EPS stands at Rs1.21

KARACHI: Pakistan Refinery Limited (PRL) posted a net profit of Rs375 million in the quarter ended March 31, down 42% from Rs651 million in the same period last year, according to a company notice sent to the Pakistan Stock Exchange (PSX).

Earnings per share (EPS) decreased to Rs1.21 compared to an EPS of Rs2.10 in the same period last year. Cumulatively, in the first nine months (Jul-Mar) of the ongoing fiscal year, the company earned Rs1.06 billion, up by 23% from Rs860 million in the same period last year.

The KSE 100-Index closed at 46,874, down 250 points or 0.53% on Tuesday. PRL’s share price closed at Rs66.23, down 3.6% from Rs68.71.

Pakistan Refinery Limited was incorporated in Pakistan as a public limited company in May 1960 and is quoted on Pakistan Stock Exchange (PSX). The refinery is situated on the coastal belt of Karachi. PRL is a hydro skimming refinery designed to process various imported and local crude oil to meet the strategic and domestic fuel requirements of the country.

It has a processing capacity of 47,000 barrels per day of crude oil into a variety of distilled petroleum products such as furnace oil, high speed diesel, kerosene oil, jet fuel and motor gasoline etc., according to company website.

Published in The Express Tribune, April 19^th, 2017.

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