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
- 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
| 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.
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