Mari Petroleum announced it’s Financial Results for the year ended June 30, 2017.
The company’s Net Sales increased by 29.76 percent in the outgoing year, whereas Profit after Taxation for the Period increased 50 .98 percent in comparison to previous year.
The Company issued a final Cash Dividend @ Rs. 2.20/- per ordinary share i.e. 22%. The company issued no Right Shares or any Bonus Shares.
Comparison of Key Financials:
For the Six Month Period
Key Financials
June, 2017
June, 2016
% Change
Gross Sales to Customers
96,775,974
94,997,719
1.87%
Gas Development Surcharge
19,580,832
25,859,852
-24.28%
General Sales Tax
13,745,689
13,509,334
1.75%
Excise Duty
1,794,397
1,694,205
5.91%
Gas Infrastructure Development cess
33,479,569
31,933,382
4.84%
Wind fall levy
–
288,182
Sales -Net
28,175,487
21,712,764
29.76%
Royalty
3,583,522
2,750,095
30.31%
Operating Expenses
7,450,011
5,763,609
29.26%
Exploration and Prospecting Expenditure
3,880,797
6,462,126
-39.95%
Other Charges
726,290
501,943
44.70%
Other (Expenses)/Income
820,328
559,789
46.54%
Operating Profit
11,714,539
6,794,780
72.40%
Finance Income
233,006
340,730
-31.62%
Finance Cost
798,086
574,058
39.03%
Profit before Taxation
11,149,459
6,561,452
69.92%
Provision for Taxation
2,013,265
509,997
294.76%
Profit for the Year
9,136,194
6,051,455
50.98%
Earnings per share – basic and diluted
Earnings per ordinary share (Rupees)
82.87
54.89
50.97%
Distributable earnings per Ordinary Share (Rupees)
