The refinery failed to remain in profit due to massive drop in profit margins. K-P company finds oil and gas reserves in KohatThe company booked loss per share of Rs0.96 under the reviewed quarter, compared to earnings per share (EPS) of Rs25.79 in the same quarter last year. Finance cost went up to to Rs451 million from mere Rs17 million. Besides, other income fell to Rs139 million from Rs197.5 million. Cumulatively, in the first half of the current fiscal year, the profit shrank 2.5-fold to Rs1.62 billion (EPS of Rs20.30), compared to Rs3.97 billion (EPS of Rs49.62) in the same half last fiscal year 2017.

Source: The Express Tribune January 24, 2018 03:56 UTC