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

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

0:00
  • 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
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.

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