Mari Petroleum profit for 1QFY18 rises 30.64% to Rs. 3.61 billion

MG News | October 31, 2017 at 12:16 PM GMT+05:00

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Mari Petroleum Net Sales for the period increased by 28.54% reaching a total of 9.33 billion during the 1^st Quarter
On the other hand, company’s exploratory and prospecting expenses decreased substantially by more than 48% during the quarter
Adding to the bottom line, company’s finance income went from 25.78 million to 119.34 million; an increase of 363% during the reported period
1^st Quarter Profit after tax for the petroleum giant reached 3.61 billion compared to same quarter last year’s profits of 2.765 billion rupees; an increase of 30.64%.
The company’s earnings per share reached 1.61 rupees against 1QFY17 EPS of 1.50 rupees

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Quarter Ended, September 30^th 2017
Key Financials	2017	2016	% Change
	Amounts in PKR ‘000
Gross Sales to customers	24,537,870	26,025,546	-5.72%
Gas Development Surcharge	3,109,535	6,286,451	-50.54%
General Sales Tax	2,893,925	3,693,617	-21.65%
excise duty	478,803	456,539	4.88%
Gas Infrastructure Development Cases	8,720,129	8,326,000	4.73%
Sales - net	9,335,478	7,262,939	28.54%
Royalty	1,187,246	908,658	30.66%
Operating Expenses	1,931,564	1,576,864	22.49%
Exploration and prospecting expenditure	245,272	475,259	-48.39%
Other charges	345,059	287,159	20.16%
Other income/(expenses)	(358,641)	(37,015)
Operating Profit	5,267,696	3,977,984	32.42%
Finance income	119,347	25,782	362.91%
Finance cost	295,950	198,122	49.38%
Profit before Taxation	5,091,093	3,805,644	33.78%
Taxation	1,477,998	1,039,974	42.12%
Profit after Taxation	3,613,095	2,765,670	30.64%
EPS - Basic and diluted	32.77	25.09	30.61%
Earnings per ordinary share (Rupees)	1.61	1.50	7.33%

Company release on Earnings Report can be accessed here.

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	114,380.00	114,720.00 113,945.00	-690.00 -0.60%
BRENT CRUDE	65.48	65.60 65.36	-0.14 -0.21%
RICHARDS BAY COAL MONTHLY	80.50	0.00 0.00	-1.00 -1.23%
ROTTERDAM COAL MONTHLY	92.50	92.50 92.50	0.35 0.38%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	61.16	61.50 61.10	-0.15 -0.24%
SUGAR #11 WORLD	14.47	15.04 14.34	-0.50 -3.34%