Pakistan Petroleum Limited today released financial statements for the half year ending December, 31st 2017. The company reported sales worth Rupees 60.973 billion whereas reporting a total of 22.023 billion worth of profits for the period.
The company during the period reported a 19% decline in Administrative Expenses, however, also reporting a 18.58% decline in Exploration Expenses.
The Petroleum giant’s other income and other charges increased by 100% and 164.17% respectively. The Pakistan Petroleum managed to post a healthy sum of Rupees 22.023 billion as the bottom-line profits for the period; rising by more than 86%.
PPL posted earnings per share of rupees 11.17 per share during the second half of year 2017 against 5.98 per share at same period last year.
The Board of Directors approved an interim cash dividend for the year ending 30th June 2018 of Rupees 4 per share at 40 percent.
Unconsolidated Profit and Loss Account – For the Half Year Ended, December 30th 2017 | |||
|---|---|---|---|
Key Financials | 2017 | 2016 | % Change |
Amounts in PKR ‘000 | |||
Net Sales | 60,973,533 | 40,025,103 | 52.34% |
Operating Expenses | 15,849,065 | 13,737,756 | 15.37% |
Royalties and Other Levies | 8,962,046 | 4,761,330 | 88.23% |
Gross Profit | 36,162,422 | 21,526,017 | 67.99% |
Exploration Expenses | 4,273,067 | 5,248,008 | -18.58% |
Administrative Expenses | 1,002,163 | 1,053,441 | -4.87% |
Finance Costs | 239,308 | 232,325 | 3.01% |
Other Charges | 2,293,116 | 868,036 | 164.17% |
Other Income | 4,483,170 | 2,235,329 | 100.56% |
Profit before Taxation | 32,837,938 | 16,359,536 | 100.73% |
Taxation | 10,814,274 | 4,562,554 | 137.02% |
Profit after Taxation | 22,023,664 | 11,796,982 | 86.69% |
EPS – Basic and diluted | 11.17 | 5.98 | 86.79% |
Company release on Earnings Report can be accessed here.
