April 25, 2025 (MLN): Mari Energies Limited (PSX: MARI) reported a 9.87% decline in net profit for the nine months ended March 31, 2025, clocking in at Rs46.53 billion compared to Rs51.63bn in the same period last year.
This downturn occurred despite a sharp reduction in tax expenses and a hike in exploration activities.
Earnings per share (EPS) slipped to Rs38.75, down from Rs43 in the corresponding period of FY24.
The company’s gross sales fell by 6.33% YoY to Rs149.63bn, down from Rs159.74bn. After accounting for sales tax and excise duty, net sales stood at Rs132.29bn, reflecting a 6.83% decline.
Despite the revenue dip, exploration and prospecting expenditure surged 71.48% to Rs7.12bn, indicating a more aggressive exploration strategy.
Meanwhile, operating and administrative expenses rose 20.83% to Rs31.58bn, and royalty and wellhead charges jumped 43.37% to Rs25.16bn.
Finance cost and other charges also increased, with the latter nearly doubling (up 74.25%), further pressuring the bottom line.
Profit before tax came in at Rs66.82bn, showing a 14.44% decline, though the provision for income tax decreased significantly by 23.36% to Rs20.28bn providing some cushion to the net earnings.
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Financial Results for the nine months ended March 31, 2025 (Rs ‘000) |
|||
|
31-Mar-25 |
3/31/2024 |
%change |
|
|
Gross Sales |
149,629,641 |
159,743,454 |
-6.33% |
|
General Sales Tax |
(17,330,649) |
(16,086,039) |
7.73% |
|
Excise Duty |
(1,635,423) |
(1,664,987) |
-1.77% |
|
Net Sales |
132,294,881 |
141,992,427 |
-6.82% |
|
Royalty & Additional Wellhead Charge |
(25,157,083) |
(17,546,490) |
43.37% |
|
Operating & Administrative Expenses |
(31,583,560) |
(26,138,736) |
20.83% |
|
Exploration & Prospecting Expenditure |
(7,115,497) |
(4,149,540) |
71.47% |
|
Finance Cost |
(2,711,372) |
(2,549,312) |
6.357% |
|
Other Charges |
(4,731,611) |
(2,715,349) |
74.25% |
|
Profit Before Taxation |
66,815,474 |
78,094,611 |
-14.44% |
|
Provision for Income Tax |
(20,283,675) |
(26,465,720) |
-23.35% |
|
Profit for the Period |
46,531,799 |
51,628,891 |
-9.87% |
|
Earnings Per Share (Rupees) |
38.75 |
43 |
-9.88% |
Copyright Mettis Link News
Posted on: 2025-04-25T15:57:34+05:00
