ISLAMABAD: Attock Refinery Limited (ATRL) reported a substantial decrease in net profit after tax (NPAT) for the fiscal year 2025, as revealed in the company's latest analyst briefing. The NPAT fell to approximately PkR12 billion, translating to an earnings per share (EPS) of PkR112.30, marking a 56% decline compared to the previous year.

The company attributed this downturn to a combination of lower product prices and reduced sales volume. Gross refining margins (GRMs) also saw a reduction, averaging US$9 per barrel during FY25, compared to US$14 per barrel in the same period last year. In the first quarter of FY26, GRMs further decreased to US$8 per barrel.

Additionally, ATRL's operational capacity utilization rate dropped to 65% in FY25, down from 75% in the previous year. This decline was primarily due to lower crude oil receipts. The production mix for the year comprised 38% motor spirit (MS), 36% high-speed diesel (HSD), 15% residual fuel oil (RFO), and 11% other products.

The management outlined that the crude conversion cost was $4.5 per barrel, while energy costs were $2.5 per barrel. This cost structure plays a critical role in the company's financial performance amidst fluctuating market conditions.

These revelations underscore the challenges faced by ATRL in a year marked by volatile market dynamics and underscore the need for strategic adjustments to address declining margins and reduced capacity utilization.