National Refinery posts Rs8.04b profit

KARACHI: National Refinery Limited has posted a net income of Rs8.04 billion in fiscal year 2016-17, up 5% from Rs7.68 billion in the preceding fiscal year, according to a bourse filing on Monday.

Earnings per share (EPS) jumped to Rs100.61 compared with an EPS of Rs96.14 in the corresponding period of last year.

The KSE-100 index closed at 41,126, down 274 points or 0.66%. National Refinery’s share price closed at Rs618.61, down 4.79%.

Other income of the company significantly reduced to Rs725 million in fiscal year 2017 compared with Rs1.51 billion in the previous year.

The company managed to post a reasonable net profit in fiscal year 2017 mainly due to significantly low taxation of Rs269 million compared with Rs2.4 billion in previous year. 

Published in The Express Tribune, September 12^th, 2017.

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