Wednesday June 29, 2022

Mari Petroleum net profit jumps 57pc in Q3FY22

By Our Correspondent
April 26, 2022

KARACHI: Mari Petroleum Company Limited on Monday reported a 57 percent rise in its quarterly net profit ending March 31, 2022, showing an increase in its cost of sales.

In a statement to the Pakistan Stock Exchange, the company reported a net profit of Rs10.889 billion for the third quarter, down from Rs6.955 billion the previous year. The company skipped any dividend for this period.

Earnings per share (EPS) came in at Rs81.63/share, compared with Rs52.14/share last year. The company said its sales for the quarter rose to Rs28.447 billion, compared with Rs18.405 billion a year earlier.

For the nine months ended March 31, it announced a net profit of Rs27.459, up from Rs23.356 billion recorded during the corresponding period last year. EPS for this period remained at Rs205.84/share against Rs175.08/share. Analysts said earnings came in line with the market expectations.