September 24, 2019 (MLN): Pakistan Petroleum Limited is all set to unveil its financial results for the year ended June 30, 2019, on Wednesday i.e. tomorrow.
Based on the estimations provided by various brokerage houses, the company’s net earnings for the stated period are expected to clock in between Rs. 58 billion to Rs. 61.5 billion, depicting an increase of around 27-35%.
Financial Projections for the year ended June 30, 2019
Research House
PAT (PKR’ million)
EPS (PKR)
% Change
Next Capital
58,695
25.89
28.10%
Fortune Securities
59,598
26.28
30%
Arif Habib
61,009
26.91
34%
Ismail Iqbal Securities
61,414
27.08
34%
Al-Habib Capital Markets
60,926
26.87
33%
AKD Research
57,800
25.5
26%
IGI Securities
61,626
27.18
35%
The market attributes this overall rise in profitability to growth in sales revenue, which in turn is attributable to higher international crude prices as well as PKR devaluation during the period. Nonetheless, some of the impact of increase in revenue is likely to be negated by drop in volumetric sales by 2%.
The company is also expected to benefit from increase in non-core income due to rise in exchange gains and interest income resulting from higher interest rates.
However, the exploration costs of the company resulting from kekra-1 well are expected to cause erosion in net earnings.
