NRL profit after tax declines to Rs2.618bn

RECORDER REPORT

KARACHI: The profit after taxation of National Refinery Limited (NRL) has declined to Rs 2.618 billion in the year ended June 30, 2012 (FY12) as compared to Rs 6.568 billion earned in the year FY11.

The company’s earning per share reduced to Rs 32.74 in the period under review against Rs 82.14 in the same period last year.

The board of directors of the company in its meeting held on Monday at Dubai recommended a final cash dividend for the year ended June 30 at Rs 15 per share i.e. 150 per cent.

According to the financial results sent to Karachi Stock Exchange on Monday, the company’s gross sales increased to Rs 207.588 billion against Rs 178.058 billion.

The company paid Rs 32.791 billion as trade discounts, taxes, duties and levies in FY12 against Rs 29.499 billion paid in the same account in FY11. The company’s cost of sales increased to Rs 170.074 billion in FY12 against Rs 138.551 billion in FY11.

The company’s profit before taxation declined to Rs 4.451 billion in FY12 against Rs 10.028 billion in FY11.