PPL's profitability suffers on the back of lower production amidst declining demand

News Image

MG News | April 23, 2020 at 03:56 PM GMT+05:00

0:00

April 23, 2020 (MLN): Pakistan Petroleum Limited has declared the earnings result for the nine months ended March 31, 2020, according to which the company has earned profits of Rs. 38.5 billion (EPS: Rs. 14.8), i.e. 12.3% lower in comparison to the profits recorded in same period of last year.

However, the profits of the company during the quarter ended March 31, 2020 improved by 3%. According to Foundation Securities, the profits of the company increased on the back of higher WHG prices, lower exploration expense, rupee devaluation and higher exchange gain.

Furthermore, the production of Gas, Oil and LPG declined considerable during the period, owing to lower demand by power sector and supply chain issues.

Despite absence of dry wells, the company’s exploration costs surged by 28%.

Consolidated Financial Results for the year ended March 31, 2020 ('000 Rupees)

 

Mar-20

Mar-19

% Change

Revenue from contracts with customers

126,541,766

119,560,583

5.84%

Operating expenses

(33,347,459)

(29,805,272)

11.88%

Royalties and other levies

(18,917,769)

(17,698,118)

6.89%

Gross profit

74,276,538

72,057,193

3.08%

Exploration expenses

(16,803,317)

(13,123,239)

28.04%

Administrative expenses

(2,167,769)

(1,531,341)

41.56%

Finance cost

(819,476)

(524,599)

56.21%

Other charges

(4,863,973)

(6,049,857)

-19.60%

Other income

4,258,603

7,703,495

-44.72%

Profit before taxation

53,880,606

58,531,652

-7.95%

Taxation

(15,284,693)

(14,504,533)

5.38%

Profit after taxation

38,595,913

44,027,119

-12.34%

Earnings per share - basic and diluted (Rupees)

14.18

16.18

-12.36%

 

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 136,502.54
259.91M
1.64%
2202.77
ALLSHR 85,079.90
838.35M
1.26%
1061.74
KSE30 41,552.62
97.27M
1.81%
738.33
KMI30 193,330.76
84.69M
0.39%
741.60
KMIALLSHR 56,315.31
366.02M
0.43%
243.06
BKTi 38,498.08
37.91M
4.13%
1526.33
OGTi 28,138.38
5.66M
-0.36%
-101.89
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 119,840.00 123,615.00
118,675.00
1310.00
1.11%
BRENT CRUDE 69.13 71.53
69.08
-1.23
-1.75%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.25
0.26%
ROTTERDAM COAL MONTHLY 106.50 106.60
106.50
-2.20
-2.02%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.90 69.65
66.84
-1.55
-2.26%
SUGAR #11 WORLD 16.31 16.67
16.27
-0.26
-1.57%

Chart of the Day


Latest News
July 14, 2025 at 05:26 PM GMT+05:00

Gold price in Pakistan rises Rs1,600 per tola


July 14, 2025 at 04:59 PM GMT+05:00

Tax reforms focus on public ease, transparency


July 14, 2025 at 04:23 PM GMT+05:00

PSX Closing Bell: Another One Bites the High


July 14, 2025 at 04:06 PM GMT+05:00

PKR falls 25 paisa per USD



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg