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

    • Mari Petroleum Net Sales for the period increased by 28.54% reaching a total of 9.33 billion during the 1st 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
    • 1st 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 30th 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.

    Posted on: 2017-10-31T12:16:00+05:00