Karachi, Attock Petroleum Limited, in a financial disclosure to the Pakistan Stock Exchange, revealed a robust financial performance for the six-month period ending December 31, 2023. The announcement, made on February 5, 2024, highlighted a significant interim cash dividend and a substantial increase in the company’s profits.
The company declared an interim cash dividend of Rs. 10 per share, marking a 100% payout. This announcement is notable as there were no prior interim dividends paid in this period. The entitlement will be available to shareholders registered by February 16, 2024. Additionally, the company’s share transfer books will be closed from February 19, 2024, to February 21, 2024.
Attock Petroleum’s financial results exhibit a marked growth in net sales, which reached Rs. 271,910,193,000 for the six-month period, up from Rs. 237,777,884,000 in the same period last year. This surge in sales is reflected in the company’s gross profit, which stood at Rs. 13,375,992,000, compared to Rs. 11,945,021,000 previously. The operating profit also saw a significant increase, reaching Rs. 10,030,088,000, up from Rs. 7,557,316,000.
Finance income for the period was reported at Rs. 4,415,761,000, more than doubling from Rs. 2,130,834,000 in the preceding year. After accounting for finance costs and other charges, Attock Petroleum’s profit before taxation surged to Rs. 12,756,845,000, compared to Rs. 8,229,924,000 in the previous period. Consequently, the profit for the period was recorded at Rs. 7,799,643,000, with a notable increase from Rs. 5,538,305,000.
The earnings per share (EPS) significantly rose to Rs. 62.69, up from Rs. 44.51 in the same period last year. The company’s balance sheet remains robust, with non-current assets and current assets valued at Rs. 105,621,228,000 and Rs. 107,954,265,000, respectively.
Attock Petroleum’s strong financial performance and the announcement of a substantial dividend highlight its resilience and growth in a challenging economic environment. The company’s full quarterly report will be disseminated through PUCARS within the specified timeframe.