April 25, 2022 (MLN): Mari Petroleum Company Limited (MPCL) has announced its financial results for 9MFY22 ended on March 31, 2021, wherein the bottom-line of the company saw an increase of 17.57% YoY, to Rs27.49 billion, translating into an EPS of Rs205.84 when compared with the same period last year in which net profits were recorded at Rs23.35bn (EPS: Rs175.57).
The profitability is attributed to 11% and 4% YoY growth in oil and gas production, respectively. In addition to this, the wellhead price of Mari Gas Field climbed up by 19% YoY, a report by Arif Habib Limited noted.
As per the financial statement issued by the company to PSX, the company’s revenue went up by 22.20% YoY to Rs67.61bn while the exploration cost jumped by 13.70% YoY, clocking in at Rs4.51bn in 9MFY22.
More notably, the financial income of the company moved up by 4.42% YoY to Rs2.71bn. Meanwhile, the finance cost inched up by 8.83% YoY to Rs735 million during 9MFY22.
In addition, the company also booked a share of loss in associates of Rs2.59bn in the review period.
|
Financial Results for the nine months ended on March 31, 2022 ('000 Rupees) |
|||
|---|---|---|---|
|
|
Mar-22 |
Mar-21 |
% Change |
|
Gross sale to customers |
77,973,653 |
62,782,446 |
24.20% |
|
General sales tax |
(8,829,802) |
(5,949,295) |
48.42% |
|
Excise duty |
(1,526,769) |
(1,500,896) |
1.72% |
|
Sales- net |
67,617,082 |
55,332,255 |
22.20% |
|
Royalty |
(8,644,087) |
6,919,598 |
-224.92% |
|
|
76,261,169 |
48,412,657 |
57.52% |
|
Operating and administrative expenses |
(11,821,721) |
(11,162,995) |
5.90% |
|
Exploration and prospecting expenditure |
(4,518,782) |
(3,974,382) |
13.70% |
|
Other charges |
(2,629,357) |
(2,330,341) |
12.83% |
|
|
(18,969,860) |
(17,467,718) |
8.60% |
|
|
57,291,309 |
30,944,939 |
85.14% |
|
Other (expenses)/income |
145,571 |
20,169 |
621.76% |
|
Operating profits |
57,436,880 |
30,965,108 |
85.49% |
|
Finance income |
2,711,996 |
2,597,217 |
4.42% |
|
Share of loss in associate |
(2,594,730) |
– |
– |
|
Finance cost |
(735,005) |
(675,343) |
8.83% |
|
Profit before taxation |
39,530,967 |
32,886,982 |
20.20% |
|
Provision for taxation |
(12,071,677) |
(9,530,743) |
26.66% |
|
Profit for the period |
27,459,290 |
23,356,239 |
17.57% |
|
Earnings per share – basic and diluted (Rupees) |
|
|
|
|
Earnings per ordinary share |
205.84 |
175.08 |
17.57% |
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