Advertisement
Categories: BusinessNewsPakistan

National Refinery Reports Rs7.24 Billion Loss

Advertisement

National Refinery Limited (NRL) has reported a net loss of Rs7.24 billion (LPS: Rs90.5) for the quarter ending September 2024, marking a significant downturn from the Rs3.2 billion profit (EPS: Rs40.05) it recorded in the same quarter last year. The company’s performance was impacted by rising costs and falling revenues.

NRL’s revenue dropped by 9.3% to Rs66.98 billion, compared to Rs73.83 billion in Q1 2023, while its cost of sales surged by 10.2%, resulting in a gross loss of Rs6.3 billion.

Despite these challenges, other income increased by 39.2%, reaching Rs105.8 million. However, finance costs soared by 97%, reaching Rs2.89 billion, adding to the company’s financial strain.

Administrative expenses remained relatively stable, rising by just 0.2%, but selling and distribution costs more than doubled, increasing by 108.6% to Rs209.68 million.

Advertisement
News Desk

Recent Posts

Netflix Confirms ‘KPop Demon Hunters’ Sequel on the Way

K-pop fans rejoiced as Maggie Kang and Chris Appelhans, the creators behind the record-breaking animated…

1 hour ago

Shehbaz Sharif Keeps Petroleum Prices Stable Amid Rising International Oil Costs

Prime Minister Shehbaz Sharif, steadfast in his commitment to alleviating economic burdens from ordinary citizens,…

1 hour ago

Iran blasts hit pro-government rally; Israel strikes continue

Deadly explosions shook Tehran on Friday during a pro-government rally attended by top officials, marking…

2 hours ago

Senate Democrats file resolution to curb Trump’s Cuba plans

Washington — The Senate Democratic majority has filed legislation aiming to prevent the U.S. from…

3 hours ago

Nvidia CEO Huang to Unveil Next-Gen AI Breakthroughs at GTC 2026

Nvidia's CEO Jensen Huang is poised to unveil groundbreaking products and strategic partnerships at an…

4 hours ago

14 Million Fentanyl Doses Seized from Mexican Lab

Mexico's government announced Thursday that it had seized over 14 million doses of fentanyl—a significant…

5 hours ago