AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Attock Petroleum Ltd (APL) has reported robust earnings for the first quarter of the fiscal year 2026, with net profit after tax (NPAT) reaching PkR3.8 billion. This marks a 60% increase year-on-year and a 44% rise quarter-on-quarter, surpassing analysts’ expectations.
The company’s net sales for the quarter were PkR118 billion, reflecting a 4% increase compared to the same period last year. This growth was primarily driven by fuel price increases during the quarter.
Despite a slight decline of 1% in the company’s offtakes, which totaled 327,000 tons, APL’s gross profitability saw a significant rise. Gross profits amounted to PkR7.6 billion, an 86% increase year-on-year, resulting in gross margins of 6.4%. Analysts attribute this improvement to fair value gains on the company’s outstanding oil marketing company (OMC) inventory, estimated at PkR4.0 billion.
However, finance income for the quarter experienced a 39% decline year-on-year, totaling PkR1.4 billion. This decrease was primarily due to reduced investment yields compared to the same period last year. The company’s cash and equivalent balances stood at PkR48.6 billion as of September 2025.
The effective tax rate for APL remained consistent at 39%, similar to the previous quarter and the same period last year.
AKD Securities Limited has expressed a positive outlook on APL, maintaining a ‘Buy’ stance with a target price of PkR750 per share by June 2026. This target indicates a potential upside of 40% from the last closing price.