Pakistan Petroleum posts profits worth Rupees 22.023 billion; record growth of 86%

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.

Posted on: 2018-02-27T13:31:00+05:00