PPL’s net gains soar on the back of higher sales

February 20, 2019 (MLN): Pakistan Petroleum Limited (PPL) has stated its half-yearly consolidated profits for the period ended with December 2018 at Rs.30.3 billion, up by 35.4% over the year and EPS at Rs.13.35.

The company noted significant expansion (that of Rs.17.9 billion) in its net sales which logged at over Rs.79 billion which resulted in a 32% rise in gross profits (Rs.47.8 billion).

Despite further expansion in overall expenses, the company managed to report its pre-tax profits 21% higher than last year, at Rs.40.3 billion.

Consolidated Financial Results for the half year ended December 31, 2018 ('000 Rupees)

 

Dec-18

Dec-17

% Change

Sales – net

                     79,056,837

                     61,180,854

29.22%

Operating expenses

                   (19,593,804)

                   (16,035,629)

22.19%

Royalties and other levies

                   (11,640,697)

                     (8,982,643)

29.59%

Gross profit

                     47,822,336

                     36,162,582

32.24%

Exploration expenses

                     (8,188,649)

                     (4,470,024)

83.19%

Administrative expenses

                     (1,100,708)

                     (1,027,997)

7.07%

Finance costs

                         (280,453)

                         (252,357)

11.13%

Other charges

                     (4,301,360)

                     (1,740,625)

147.12%

 

                     33,951,166

                     28,671,579

18.41%

Other income

                        6,344,601

                        4,524,373

40.23%

Profit before taxation

                     40,295,767

                     33,195,952

21.39%

Taxation

                   (10,028,238)

                   (10,836,022)

-7.45%

Profit after taxation

                     30,267,529

                     22,359,930

35.37%

Basic and diluted earnings per share (Rupees)

                                13.35

                                  9.86

35.40%

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Posted on: 2019-02-28T13:46:00+05:00

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