“Bottom-line was supported by non-refinery income (share in profit of associated companies) of Rs747 million up 36% on a year-on-year basis,” Topline Securities said in a post financial reporting comment. In the same quarter last year, the refinery reported its profit at Rs2.03 billion, according to its profit and loss accounts. Earnings per share dropped to Rs1.81 in the quarter under review from Rs23.83 in the same quarter last year. The company’s net sales increased 14%, at Rs28.03 billion, from Rs24.67 billion. However, the exorbitant cost of sales (Rs28.47 billion), which came higher than the net sales this quarter, gave a serious setback to the firm.

Source: The Express Tribune January 24, 2018 04:07 UTC