{"id":7218,"date":"2024-08-25T04:41:33","date_gmt":"2024-08-25T04:41:33","guid":{"rendered":"https:\/\/gsrra.com\/?p=7218"},"modified":"2024-08-25T04:41:34","modified_gmt":"2024-08-25T04:41:34","slug":"pakistan-refinery-profit-jumps-123-in-fy24","status":"publish","type":"post","link":"https:\/\/gsrra.com\/?p=7218","title":{"rendered":"Pakistan Refinery profit jumps 123% in FY24"},"content":{"rendered":"\n<ul class=\"wp-block-list\">\n<li><strong><em>Company announces final cash dividend of Rs2 per share<\/em><\/strong><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/i.brecorder.com\/primary\/2024\/08\/221804128e93c47.jpg\" alt=\"\" title=\"\"\/><\/figure>\n\n\n\n<p><a href=\"javascript:void(0)\"><\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/youtube.com\/channel\/UCFWx0mweS7ExXjs3s_wH0CQ\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/www.facebook.com\/BusinessRecorder\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/www.instagram.com\/businessrecorder\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/twitter.com\/brecordernews\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/www.brecorder.com\/feeds\/latest-news\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><strong>Driven by a significant increase in revenue, Pakistan Refinery Limited (PRL), a subsidiary of the Pakistan State Oil Company Limited (PSO), witnessed a remarkable turnaround as its profit-after-tax (PAT) clocked in at Rs4.06 billion in the financial year ended on June 30, 2024.<\/strong><\/p>\n\n\n\n<p>In the financial year 2023, PRL posted a PAT of Rs1.82 billion.<\/p>\n\n\n\n<p>According to a notice to the Pakistan Stock Exchange (PSX) on Thursday, the board of directors met on August 21 to review the company\u2019s financial and operational performance and recommended a final cash dividend of Rs 2 per share.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.brecorder.com\/news\/40304670\/chinese-companies-keen-in-expansion-project-says-prl\" target=\"_blank\" rel=\"noopener\">Chinese companies keen on expansion project, says PRL<\/a><\/strong><\/p>\n\n\n\n<p>Earnings per share (EPS) were recorded at Rs6.45 in FY24 as compared to EPS of Rs2.90 in FY23.<\/p>\n\n\n\n<p>The refinery revenue from contracts rose to Rs305.54 billion compared to Rs261.86 billion in FY23, an increase of nearly 16.68%.<\/p>\n\n\n\n<p>The company saw its gross profit increase by an exponential 107%, clocking in at Rs15.1 billion in FY24, compared to Rs7.3 billion in FY23.<\/p>\n\n\n\n<p>PRL\u2019s other income increased 9% to Rs4.43 billion in FY24, compared to Rs4.07 billion in FY23.<\/p>\n\n\n\n<p>However, the company\u2019s operating expenses also shot up to Rs6.76 billion in FY24, in comparison to Rs2.44 billion in the previous year.<\/p>\n\n\n\n<p>Despite the increase, PRL\u2019s operating profit rose to Rs10.83 billion in FY24, as compared to Rs7.45 billion last year, a massive jump of 46%.<\/p>\n\n\n\n<p>The finance cost reduced to Rs3.8 billion from Rs4.1 billion in FY23.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img fetchpriority=\"high\" decoding=\"async\" width=\"352\" height=\"220\" src=\"https:\/\/gsrra.com\/wp-content\/uploads\/2024\/08\/image-161.png\" alt=\"\" class=\"wp-image-7220\" style=\"width:548px;height:auto\" srcset=\"https:\/\/gsrra.com\/wp-content\/uploads\/2024\/08\/image-161.png 352w, https:\/\/gsrra.com\/wp-content\/uploads\/2024\/08\/image-161-300x188.png 300w\" sizes=\"(max-width: 352px) 100vw, 352px\" \/><\/figure>\n\n\n\n<p>The company\u2019s profit before tax from refinery operations stood at Rs7.07 billion in FY24, as compared to Rs3.37 billion last year, an exponential increase of 110%.<\/p>\n\n\n\n<p>Pakistan Refinery Limited was incorporated in Pakistan as a public limited company in May 1960.<\/p>\n\n\n\n<p>The refinery\u2019s current capacity stands approximately at 50,000 barrels per day of crude oil into petroleum products, such as furnace oil, high-speed diesel, kerosene oil, jet fuel, and motor gasoline, among others.<\/p>\n\n\n\n<p>Reference Link:- <a href=\"https:\/\/www.brecorder.com\/news\/40318813\" target=\"_blank\" rel=\"noopener\">https:\/\/www.brecorder.com\/news\/40318813<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Driven by a significant increase in revenue, Pakistan Refinery Limited (PRL), a subsidiary of the Pakistan State Oil Company Limited (PSO), witnessed a remarkable turnaround as its profit-after-tax (PAT) clocked in at Rs4.06 billion in the financial year ended on June 30, 2024. In the financial year 2023, PRL posted a PAT of Rs1.82 billion. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7219,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[2],"tags":[2916,132,105,2868,2914,36,2915],"class_list":["post-7218","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sample-category","tag-economic-activities","tag-economy","tag-geopolitics-2","tag-healthy-business-environments","tag-oil-refinery","tag-pakistan","tag-prl"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/7218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7218"}],"version-history":[{"count":1,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/7218\/revisions"}],"predecessor-version":[{"id":7221,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/7218\/revisions\/7221"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/media\/7219"}],"wp:attachment":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}