KARACHI: Pakistan Petroleum Limited’s (PPL) profit surged 32 percent to Rs45.825 billion for the year ended June 30, translating into earnings per share (EPS) of Rs23.24, a bourse filing said on Tuesday.
PPL’s profit amounted to Rs34.699 billion with EPS of Rs17.60 in the preceding fiscal year, a statement to Pakistan Stock Exchange (PSX) said.
PPL’s board recommended payment of a final cash dividend of Rs1.50/share on ordinary shares and 15 percent bonus shares – 15 ordinary shares for every 100
ordinary shares – for the year ended June 30.
If approved by the members at the forthcoming annual general meeting the dividend and bonus shares will be distributed to the members.
Brokerage Taurus Securities said the earnings rose mainly due to higher oil prices, rupee devaluation, and higher other income on foreign exchange gains.
“However, oil and gas production actually declined during the period while LPG (liquefied petroleum gas) flows were up 16.3 percent year-on-year,” the brokerage said in a flash report.
Drop in financing cost and higher sales helped the company post a decent gain in profit numbers.
Financing cost decreased 6.8 percent to Rs470 million in FY2018, while sales accelerated to Rs126 billion from Rs 117 billion.
Sheikh argued that the government should have maintained stable petroleum prices
MARI has successfully drilled and tested the third appraisal well in the Ghazij formation in the Mari D&PL
Gold rates decreased by $17 to $2,395 per ounce in the international market
Company's revenue saw a 13.9% year-on-year increase, reaching Rs49.2 billion, up from Rs43.19 billion in the same...
A man counts US dollars in a money exchange shop in Dhaka. — AFP/FileLAHORE: The first thing that the government...
Power generation stood at 8,741 gigawatt-hours or 11,749 megawatts in March
