MARI profit up 44pc in H1FY23

KARACHI: Mari Petroleum Company Limited (MARI) on Thursday announced an increase of 44 percent in its profit for the half-year that ended December 31, courtesy to an increase in the company sales.

In a statement to the Pakistan Stock Exchange, MARI reported a net profit of Rs23.861 billion during first six months of FY23, against Rs16.569 billion recorded in the same period last year.

The company also announced first interim cash dividend of Rs89 per share.

Earnings per share (EPS) came in at Rs178.87/share, compared with EPS of Rs124.21/share during the same period last year.

MARI said its sales for the half-year increased to Rs68.204 billion, compared with Rs49.525 billion a year earlier.

For the quarter that ended December 31, the company posted a net profit of Rs11.147 billion, up from Rs7.471 billion during the same period in 2021. EPS during that period was recorded at Rs83.56, compared with Rs56 in 2021.