Pakistan's only vertically integrated oil company Byco Petroleum Pakistan Ltd (BPPL) has shown robust performance in its core businesses, declaring an after tax profit of Rs 3.42 billion for the nine months ending March 31, 2018, up from a loss of Rs 128.25 million in the same period last year. On per share basis, Byco earned Rs 0.64 per share in the first nine months of FY18 as opposed to a loss of Rs 0.02 per share in the corresponding period last year.
Byco's operating profit for the nine months ending March 31 nearly tripled to Rs 5.74 billion from Rs 2.0 billion a year earlier. The strong growth in profits was driven in large part by a 71 percent increase in gross turnover to Rs 138.94 billion. The company's net turnover registered 73 percent growth from FY17 to Rs 107.57 billion. For the third quarter ending March 31 Byco declared an after tax profit of Rs 1.13 billion, up from a loss of Rs 147.58 million in the same period last year.-PR