Pakistan Refinery suffers Rs1.24bn loss in 3QFY24
Pakistan, April 25 -- Battered by lower revenue and high cost of sales, Pakistan Refinery Limited (PRL), a subsidiary of the Pakistan State Oil Company Limited (PSO), sustained a massive loss of Rs1.24 billion in the quarter ended March 31, 2024. In the same period last year, PRL posted a profit after tax of Rs1.77 billion. According to a notice to the Pakistan Stock Exchange (PSX) on Wednesday, the board of directors met on April 23 to review the company's financial and operational performance and recommended a nil dividend. The company's loss per share (LPS) was recorded at Rs1.97 in 3QFY24 as compared to EPS of Rs2.81 in the same period last year (SPLY). During the period under review, the refinery revenue from contracts declined to Rs49...
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