KARACHI: The National Refinery Limited has posted mammoth growth of 351 percent as its profits reached Rs5.23 billion during the nine months of current fiscal year as against Rs1.16 billion in the corresponding period of the last year.
According to a notice issued to PSX, NRL announced earnings per share (EPS) of Rs65.50 against Rs14.53 in the same period of the last year. Despite such a huge profit, NRL did not announce any interim cash dividend. Gross sales of the company were recorded at Rs114.94 billion, lower by 22.5 percent against Rs148.44 billion.
Net sales of the company during the period under review were recorded at Rs75.98 billion as compared to Rs117.84 billion in the corresponding period of the last year, whereas cost of sales declined to Rs67.98 billion against Rs115.25 billion. A huge decline in the cost of sales increased the gross profit of the company to Rs7.99 billion from Rs2.59 billion last year.
Other income of the company remained flat at Rs1.152 billion from Rs1.153 billion in the same period of the last year. In 3QFY16, the refinery booked a profit of Rs2.35 billion, up 48.5 percent against the profits of Rs1.21 billion in 3QFY15.
