Mari Petroleum (MARI) today released financial statements for the half year ending December 31st, 2017 in which it has reported an incline of 38% increase in net sales and a 48% increase in bottom-line profits.
Mari Petroleum have reported a jump in other income adding Rs. 908.092 million to bottom-line during the half year.
Furthermore, company net profit after taxation clocked in at Rs. 6.815 billion jumping by 48% during the period under review. Management approved a Rs. 3.5 per share i.e. 35% dividend for the period.
Company’s distributable earnings per share clocked in at Rs. 3.16 per share against Rs. 2.93 per share last year.
Unconsolidated Profit and Loss Account – For the Half Year Ended, December 31st 2017 | |||
|---|---|---|---|
Key Financials | 2017 | 2016 | % Change |
Amounts in PKR ‘000 | |||
Gross Sales to Customers | 47,589,851 | 49,823,112 | -4.48% |
Sales – net | 18,016,984 | 13,059,509 | 37.96% |
Royalty | 2,288,440 | 1,633,230 | 40.12% |
Operating Expenses | 4,661,950 | 3,513,747 | 32.68% |
Exploration and Prospecting Expenditure | 1,355,745 | 897,936 | 50.98% |
Other Charges | 660,205 | 404,921 | 63.05% |
Other Income/Expenses | 908,092 | (119,874) | -857.54% |
Operating Profit | 9,358,736 | 6,489,801 | 44.21% |
Finance Income | 303,740 | 79,475 | 282.18% |
Finance Cost | 608,609 | 406,368 | 49.77% |
Profit before Taxation | 9,053,867 | 6,162,908 | 46.91% |
Taxation | 2,238,449 | 1,550,789 | 44.34% |
Profit after Taxation | 6,815,418 | 4,612,119 | 47.77% |
EPS | 61.82 | 41.83 | 47.79% |
Distributable EPS | 3.16 | 2.93 | 7.85% |
Company release on Earnings Report can be accessed here.
