Mari Petroleum Ltd. profits rise 71 percent to Rs. 10.784 billion

MG News | April 16, 2018 at 02:26 PM GMT+05:00

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Mari Petroleum Limited (MARI) today announced financial results for the nine months period ending 31 March, 2018 reporting Net Sales worth Rs. 19.865 billion. Furthermore, the company’s gross profit during the outgoing nine months rose by 43.92 percent to reach 24.953 billion.

MARI releases on the exchange show a very strong performance relative to other participants during the last nine months. Net Sales during the reported period went up by 43.92 percent.

The reports show a marked reduction in company’s Exploration and Prospecting Expenditure, increasing the company’s bottom-line profits by more than 71 percent during the period to reach 10.784 billion up from 6.306 billion during the same period last year.

MARI reported an EPS of Rs. 97.82 vs. an EPS of Rs 57.21 during the nine months ending March, 2017.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Nine Months Ended, March 30^th 2018
Key Financials	March, 2018	March, 2017	% Change
	Amounts in PKR ‘000
Gross Sales to Consumers	72,367,929	74,137,485	-2.39%
Gas Development Surcharge	8,448,520	17,663,063	-52.17%
General Sales Tax	8,492,926	10,511,901	-19.21%
Excise Duty	1,417,574	1,343,605	5.51%
Gas Infrastructure Development Cess	25,417,238	24,752,981	2.68%
Sales - Net	28,591,671	19,865,935	43.92%
Royalty	3,638,383	2,527,530	43.95%
Operating Expenses	6,987,848	5,129,241	36.24%
Exploration and Prospecting Expenditure	1,637,366	2,565,322	-36.17%
Other Charges	1,069,637	538,044	98.80%
Other Income/(expenses)	38,990	421,848	-90.76%
Operating Profit	15,297,427	8,683,950	76.16%
Finance Income	489,057	141,989	244.43%
Finance Cost	786,046	610,389	28.78%
Profit before Taxation	15,000,438	8,215,550	82.59%
Taxation	4,216,205	1,908,633	120.90%
Profit after Taxation	10,784,233	6,306,917	70.99%
Eps - Basic and Diluted
Eps	97.82	57.21	70.98%
Distributable EPS	4.79	4.43	8.13%

Company release on Earnings Report can be accessed here.

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