Karachi: National Refinery Limited, a key player in the energy sector, has announced its financial results for the year ending June 30, 2026. The company, which held its board meeting on August 25, reported a profit after taxation of 6.16 billion rupees, marking a substantial recovery from a loss of 14.87 billion rupees in the previous year.

The financial report, released on August 27, 2026, highlights a notable increase in the company's total assets, which rose to 166.24 billion rupees from 149.50 billion rupees the previous year. The increase in assets was mainly driven by growth in current assets, including a substantial rise in stock-in-trade and trade receivables.

Despite the financial upturn, the Board of Directors decided against declaring any cash dividend, bonus shares, or right shares for the year, maintaining a cautious approach in their corporate actions.

The company's revenue from contracts with customers increased significantly to 588.55 billion rupees from 408.07 billion rupees in the preceding year, representing a very large move of 44.21%. However, the cost of sales remained high at 417.30 billion rupees, slightly down from 313.90 billion rupees previously. This improvement in revenue contributed to a gross profit of 23.54 billion rupees, a turnaround from a gross loss of 6.23 billion rupees in the previous year.

The comprehensive income for the year, which includes a minor move in the change in fair value of long-term investments and a loss from remeasurements of post-employment benefit obligations, was reported at 6.13 billion rupees.

The company's financial position was further strengthened by a decrease in non-current liabilities, which fell to 4.82 billion rupees from 12.12 billion rupees, primarily due to a reduction in long-term borrowing. However, current liabilities saw an increase to 104.98 billion rupees from 87.06 billion rupees, largely due to a rise in trade and other payables.

According to information available from the Pakistan Stock Exchange (PSX), these figures reflect a robust recovery and strategic financial management by National Refinery Limited over the fiscal year. The company has managed to achieve an operating profit of 20.16 billion rupees, reversing an operating loss of 7.70 billion rupees from the prior year.

The Annual General Meeting of the company is scheduled for September, where further insights into the company’s strategies and future outlook are expected to be discussed. National Refinery Limited's performance underscores its resilience and strategic positioning within the energy sector, as reflected in these latest financial outcomes.