Pakistan Petroleum Limited profits rise by 74.06 percent to Rs. 33.192 billion

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MG News | April 24, 2018 at 04:16 PM GMT+05:00

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Pakistan Petroleum Limited (PPL) today announced financial results for the nine months period ending 31 March, 2018 reporting Sales at Rs. 91.822 billion; an increase of 43.53 percent. Furthermore, the company’s Gross Profit jumped to Rs. 54.021 billion during the outgoing nine months.

On the expenses front, PPL reported 0.74 percent decrease in Exploration Expenses, 46.69 percent increase in Administrative Expenses, whereas, other charges incurred by the company jumped 117.81 percent during the period.

Furthermore, PPL also reported a 91.47 increase in Other Income reaching Rs. 6.571 billion during the nine months.

Pakistan Petroleum Limited reported profit after taxation at Rs. 33.192 billion against Rs. 19.070 billion during the same period last year translating into an EPS of Rs. 16.83 vs. an EPS of Rs. 19.070 during the nine months ending March, 2017. 

Comparison of Key Financials

Unconsolidated Profit and Loss Account - For the Nine Months Ended, March 30th 2018

Key Financials

March, 2018

March, 2017

% Change

 

Amounts in PKR’ 000

Sales Net

91,822,944

63,973,279

43.53%

Operating Expenses

24,323,041

22,920,751

6.12%

Royalties and Other Levies

13,478,297

7,594,289

77.48%

Gross Profit

54,021,606

33,458,239

61.46%

Exploration Expenses

7,090,343

7,143,333

-0.74%

Administrative Expenses

2,012,083

1,371,643

46.69%

Finance Costs

450,478

347,137

29.77%

Other Charges

3,092,303

1,419,726

117.81%

Other Income

6,571,383

3,432,120

91.47%

Profit before Taxation

47,947,782

26,608,520

80.20%

Taxation

14,754,790

7,538,298

95.73%

Profit after Taxation

33,192,992

19,070,222

74.06%

EPS - Basic and diluted

16.83

9.67

74.04%

Company release on Earnings Report can be accessed here.

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