Rawalpindi: Attock Petroleum Limited has released its financial results for the fiscal year ended June 30, 2024, showcasing a robust profit and a substantial increase in shareholder dividends. The Board of Directors, convening on September 02, 2024, declared a final cash dividend of Rs. 17.50 per share, which is an addition to the interim dividend of Rs. 10.00 per share previously distributed.

According to information available from the Pakistan Stock Exchange (PSX), the company's financial stability is evident from its substantial net sales which amounted to Rs. 526.32 million for the year, an increase from the previous year's Rs. 473.94 million. The cost of products sold was reported at Rs. 504.27 million, resulting in a gross profit of Rs. 22.04 million.

Attock Petroleum's other income, including net impairments and reversals, contributed Rs. 2.00 million to the earnings, while stringent control over operating expenses, which totaled Rs. 7.59 million, bolstered the operating profit to Rs. 16.51 million. The net finance income significantly contributed to the company's earnings, reporting at Rs. 8.01 million due to a high finance income of Rs. 9.63 million against a finance cost of Rs. 1.62 million.

The profit before income tax stood at Rs. 22.91 million after accounting for other charges, and the net profit after taxation reached Rs. 13.82 million, marking an increase from the previous year's Rs. 13.82 million. Earnings per share also saw a significant rise, at Rs. 111.09 compared to the prior year.

The Annual General Meeting is scheduled for October 14, 2024, in Rawalpindi, with the company's Share Transfer Books to be closed from October 08 to October 14, 2024. Eligible shareholders must be registered by October 07, 2024, to partake in the dividends and to attend the AGM. Further details and the full financial statements will be available on the company’s website and transmitted through PUCARS in advance of the AGM.