April 29, 2025 (MLN):Â 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 Rs1Â per share (10%) on Ordinary Shares, in addition to the interim cash dividends of Rs4Â per share (40%) on Ordinary and Rs3Â 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% |
Copyright Mettis Link News
Posted on: 2025-04-29T11:31:23+05:00
