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APL: 1st Quarter 2024 Earning Drastically down

Attock Petroleum-APL, in Q1 Sep2024, earned a net income of Rs. 2385 million, (Rs. 19.2 per share). This brings the total net income for the last four quarters to Rs. 88 per share, with a total cash payout of Rs. 27.5 per share. The profit after tax in the current quarter is 31% lower compared to the average PAT of the previous four quarters. Gross margin in this quarter was drastically down to 3.5%. And Sales decline was 17%. Compared to same quarter last year; Revenue declined by 17%. Gross profit declined by 61%. Profit before tax declined by 56%. Profit after tax declined by 55%.

APL is trading at a price-to-earnings ratio of 5.1, with a dividend yield of 6.1%.

The largest shareholders of APL are Pharaon Investment Group Limited (Holding) s.a.l (34.38%), Attock Refinery Ltd (21.88%), Pakistan Oilfields Ltd (7.02%), and The Attock Oil Company Limited (2.20%).

APL holds a small stake of 1% in NRL and 1.68% in ATRL. Substantial short term investment in current assets gets a decent financial income. See APL Earnings Release



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