April 27, 2023 (MLN): The profitability of Pakistan Petroleum Limited (PSX: PPL) for the nine months period that ended on March 31, 2023, witnessed a surge of around 58% YoY to Rs81.35 billion, compared to Rs51.52bn in 9MFY22, the company’s filing on PSX showed today.
The company’s revenue from contracts with customers has increased by around 52% YoY to Rs215.11bn in 9MFY23, compared to Rs141.5bn in the corresponding period last year.
On the expense side, the exploration expense stood at Rs13.62bn, up by 27.42% YoY in the review period while the administrative expenses registered a drop of 7.5% YoY to Rs2.84bn compared to Rs3bn in 9MFY22.
The finance cost of the company moved up by 18% YoY to Rs1.10bn during the review period.
During the period under review, the company paid around 47bn in terms of taxes, inflating by 95% YoY compared to Rs24bn in 9MFY22.
|
Consolidated Financial Results for the nine months ended March 31, 2023 ('000 Rupees) |
|||
|---|---|---|---|
|
Mar-23 |
Mar-22 |
change |
|
|
Revenue from contracts with customers |
215,116,789 |
141,509,348 |
52.01596 |
|
Operating Expenses |
(36,616,662) |
(29,652,789) |
23.48472 |
|
Royalties and other levies |
(34,965,825) |
(20,788,316) |
68.19941 |
|
Gross profit |
143,534,302 |
91,068,243 |
57.61181 |
|
Exploration expenses |
(13,616,268) |
(10,685,793) |
27.42403 |
|
Administrative expenses |
(2,842,583) |
(3,074,546) |
-7.54463 |
|
Finance cost |
(1,100,454) |
(932,342) |
18.03115 |
|
Reversal of provision for doubtful debts |
– |
41,929 |
– |
|
Share of loss of associate |
(225,312) |
(2,446,912) |
-90.792 |
|
Other charges |
(12,468,707) |
(8,884,559) |
40.34132 |
|
Other income |
15,020,654 |
10,407,443 |
44.32608 |
|
(Loss)/Profit before taxation |
128,301,632 |
75,493,463 |
69.95065 |
|
Income tax expense |
(46,954,023) |
(23,967,299) |
95.9087 |
|
Profit after taxation |
81,347,609 |
51,526,164 |
57.87632 |
|
Earnings per share – basic and diluted (Rupees) |
29.90 |
18.94 |
57.86695 |
Copyright Mettis Link News
Posted on: 2023-04-27T14:38:42+05:00
