Decline in camel profits in the first half of the year / Tehran oil refinery was burnt in the fire of crack spreads!
According to Tejarat News, a look at Tehran Oil Refining’s 6-month record shows that the company faced a decrease in sales in the first half of this year, and this caused the company’s cost of goods sold to decrease in addition to the income from sales. On the other hand, crack spreads were down during this period, and this issue further caused the sales rate of refinery products to decrease in the first half of this year.
In this way, Tehran’s oil refining income reached 116,702 billion tomans in the first six months of last year with a decrease of 19.36% to 94,103 billion tomans in the first half of this year. However, the decrease in the cost of the company was not as much as the decrease in its income, and this number reached 83 thousand 573 billion tomans with a drop of 16.18 percent.
The difficult path of camel profitability
This issue caused the gross profit of Camels to fall by more than 38% in its first half-year record. Also, the general, administrative and organizational costs of the company remained constant during this period, and the company’s income from “other operating income” decreased by more than five percent. In this way, the operating profit of Camels also decreased by 38.67% in this period and reached 10,289 billion tomans from 16,776 billion tomans.
Of course, it should be said that other non-operating incomes of the company increased by more than 39% in the first half of this year and reached 4,559 billion tomans. On the other hand, the tax paid by camels has decreased by more than 47% in the first half of this year.
The 39% growth of the company’s non-operating income during this period could somewhat clarify the record of Siah Shetran. Because the net profit of Camels decreased by 24% in the first half of this year and reached 12,376 billion tomans from 16,316 billion tomans in the first 6 months of 1401.
Finally, in the first half of 2012, Shatran managed to achieve an EPS of 45 tomans, which is a 24% decrease compared to the same period last year, considering the registered capital of 27,500 billion tomans.
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