MPCL FY21 profit up 4pc

KARACHI: Mari Petroleum Company Limited (MPCL) on Thursday reported a four percent rise in its full-year net profit, due to a decline in operating expenses.

In a statement to the Pakistan Stock Exchange, the company reported a net profit of Rs31.44 billion for the year ended June 30, up from Rs30.31 billion the previous year.

The company also announced a final cash dividend of Rs75 a share, which is in addition to interim dividends already paid at Rs66 per share.

Earnings per share came in at Rs235.71, compared with Rs227.23 last year.

The company said its revenue for the year rose to Rs82.69 billion, compared with Rs81.60 billion a year earlier.

The company said its exploration and prospecting expenditure fell to Rs4.54 billion from Rs10.25 billion that increased the profit margins. Overall, operating cost also fell to Rs33.29 billion, compared with Rs35.64 billion.