<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">FY21: PAT: PKR 1.77Bn, up 1.44xYoY</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">1QFY22: PAT: PKR 405.9Mn, up 1.3xYoY</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">During FY21, net sales increased 12%YoY due to higher
capacity utilization of fuel (FY21: 65%, FY20: 59%) and lube refinery (FY21:
79%, FY20: 68%) coupled with reopening of economy and increasing international
oil prices. Moreover, change in pricing formula and fortnightly prices also
contributed towards reduction in fuel refinery losses and thin refinery
margins.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">NRL reported profit during FY21 after 2 consecutive years of
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