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.
Comparison of Key Financials
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.
