MARI taps stronger earnings, 7% growth in 9MFY26

April 22, 2026 (MLN):  Mari Energies Limited (PSX: MARI) reported a solid 7% increase in its consolidated net profit for the nine months ended March 31, 2026, reaching Rs49.71bn compared to Rs46.53bn in the corresponding period last year.

Reflecting this healthy bottom-line growth, the company's earnings per share (EPS) expanded to Rs41.41 from Rs38.75 in 9MFY25.

The top-line performance showed steady growth, with gross sales rising by 5% year-on-year to Rs157.13bn.

After accounting for sales tax and excise duty, net sales posted a 5% increase, reaching Rs138.30bn from Rs132.29bn in the prior year.

However, the company faced margin pressures primarily driven by regulatory costs. While operating and administrative expenses were kept firmly in check remaining almost completely flat at Rs31.68bn.

Royalties spiked significantly by 32% to Rs33.16bn. On a positive note, exploration and prospecting expenditures dropped by 7% to Rs8.95bn, and other charges were reduced by 20% to Rs3.77bn.

Despite these savings, the heavy burden of royalties caused the core operating subtotal to edge down slightly by 1.5% to Rs57.77bn.

Below the operating line, the company experienced mixed results. Other income registered a massive surge, jumping to Rs2.22bn from Rs609.47m.

However, this was offset by a sharp 41% drop in finance income, which fell to Rs4.62bn from Rs7.88bn in the same period last year.

Weighed down by the lower finance income and higher royalties, profit before taxation dipped by 4% to Rs64.25bn.

The critical catalyst that rescued Mari Energies' bottom-line growth was a substantially lower tax burden.

The company's provision for taxation plummeted by 28%, dropping to Rs14.54bn from the heavy Rs20.28bn charge recorded last year.

This massive tax relief seamlessly absorbed the pre-tax dip, allowing the final profit for the period to comfortably secure a 7% expansion.

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