Mari Petroleum Ltd. profits rise 71 percent to Rs. 10.784 billion
MG News | April 16, 2018 at 02:26 PM GMT+05:00
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.
| Unconsolidated Profit and Loss Account - For the Nine Months Ended, March 30th 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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