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.
Comparison of Key Financials
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.
