The profit after tax of National Refinery Limited reduced to Rs 828.308 million in the quarter ended September 30, 2011 as compared to Rs 1,349.376 million earned in the corresponding quarter in 2010. The board of directors of the company in its 166th meeting held on October 20, 2011 declared that the company's earning per share has declined to Rs 10.36 in the period under review against Rs 16.87 in the same period last year.
According to the financial results sent to Karachi Stock Exchange, the company's gross sales increased to Rs 43.794 billion in this quarter against Rs 41.268 billion in the same quarter last year. The company paid Rs 6.187 billion as trade discount, taxes, duties and levies in this quarter against Rs 7.878 billion paid in the same account in the same quarter last year.
The company's cost of sales increased to Rs 36.092 billion in this quarter against Rs 31.076 billion in the same quarter last year. The distribution and marketing expenses increased to Rs 262.816 million against Rs 239.820 million. The company's finance cost increased to Rs 195.938 million against Rs 64.037 million. The company's profit before taxation declined to Rs 1.324 billion in this quarter as compared to Rs 2.166 billion in the same quarter last year.