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

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 30^th 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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