PPL reports over 26% YoY decline in net profit

MG News | April 29, 2025 at 11:31 AM GMT+05:00

0:00

April 29, 2025 (MLN): Pakistan Petroleum Limited (PSX: PPL) reported a 26.40% year-on-year decline in net profit for the nine months ended March 31, 2025, driven by lower revenue and a surge in expenses.

The Board of Directors authorized an interim cash dividend of Rs1 per share (10%) on Ordinary Shares, in addition to the interim cash dividends of Rs4 per share (40%) on Ordinary and Rs3 per share (30%) Convertible Preference Shares already distributed during the year.

The company posted a net profit of Rs71.85 billion [EPS: Rs26.41] compared to Rs97.63bn [EPS: Rs35.88] in the same period last year (SPLY).

Revenue from contracts with customers dropped 14.99% to Rs192.56bn from Rs226.52bn in SPLY.

Despite a 13.76% decline in royalties and other levies, operating expenses increased by 6.72% to Rs41.21bn, leading to a 20.75% drop in gross profit to Rs121.26bn.

Administrative expenses jumped 44.45% to Rs4.95bn, while finance costs surged 54.57% to Rs1.91bn amid rising interest expenses.

Exploration expenses also grew by 5.56% to Rs12.88bn.

Other charges fell 32.58% to Rs9.65bn, but other income also declined significantly by 24.71% to Rs90.37bn.

As a result, profit before taxation was down 16.76% to Rs109.87bn. Taxation expenses rose 10.64% to Rs38.02bn, which further eroded the bottom line.

Consolidated Statement of Profit and Loss For The Nine Month Ended March 31, 2025 (Rupees '000)
Category	Mar-25	Mar-24	%Change
Revenue from Contracts with Customers	192,561,016	226,523,512	-14.99%
Operating Expenses	(41,213,516)	(38,620,143)	6.72%
Royalties and Other Levies	(30,083,037)	(34,882,725)	-13.76%
Gross Profit	121,264,463	153,020,644	-20.75%
Exploration Expenses	(12,878,148)	(12,200,017)	5.56%
Administrative Expenses	(4,946,054)	(3,424,176)	44.45%
Finance Costs	(1,910,542)	(1,235,998)	54.57%
Reversal of Provision for Doubtful Debts	-	3,854
Share of Loss of Associates	(1,490,889)	(1,856,094)	-19.68%
Other Charges	(9,649,654)	(14,313,742)	-32.58%
Other Income	90,371,176	120,024,471	-24.71%
Profit Before Taxation	109,871,419	131,988,715	-16.76%
Taxation	(38,020,197)	(34,362,669)	10.64%
Profit After Taxation	71,851,222	97,626,046	-26.40%
Basic & Diluted Earnings Per Share (Rs.)	26.41	35.88	-26.39%

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