PPL registers 58% YoY jump in net profit during 9MFY23

April 27, 2023 (MLN): The profitability of Pakistan Petroleum Limited (PSX: PPL) for the nine months period that ended on March 31, 2023, witnessed a surge of around 58% YoY to Rs81.35 billion, compared to Rs51.52bn in 9MFY22, the company’s filing on PSX showed today.
The company’s revenue from contracts with customers has increased by around 52% YoY to Rs215.11bn in 9MFY23, compared to Rs141.5bn in the corresponding period last year.
On the expense side, the exploration expense stood at Rs13.62bn, up by 27.42% YoY in the review period while the administrative expenses registered a drop of 7.5% YoY to Rs2.84bn compared to Rs3bn in 9MFY22.
The finance cost of the company moved up by 18% YoY to Rs1.10bn during the review period.
During the period under review, the company paid around 47bn in terms of taxes, inflating by 95% YoY compared to Rs24bn in 9MFY22.




Consolidated Financial Results for the nine months ended March 31, 2023 ('000 Rupees)

 




 

Mar-23


Mar-22


change




Revenue from contracts with customers


   215,116,789


   141,509,348


52.01596




Operating Expenses


   (36,616,662)


   (29,652,789)


23.48472




Royalties and other levies


   (34,965,825)


   (20,788,316)


68.19941




Gross profit


   143,534,302


     91,068,243


57.61181




Exploration expenses


   (13,616,268)


   (10,685,793)


27.42403




Administrative expenses


     (2,842,583)


     (3,074,546)


-7.54463




Finance cost


     (1,100,454)


         (932,342)


18.03115




Reversal of provision for doubtful debts


 –


             41,929

–



Share of loss of associate


         (225,312)


     (2,446,912)


-90.792




Other charges


   (12,468,707)


     (8,884,559)


40.34132




Other income


     15,020,654


     10,407,443


44.32608




(Loss)/Profit before taxation


   128,301,632


     75,493,463


69.95065




Income tax expense


   (46,954,023)


   (23,967,299)


95.9087




Profit after taxation


     81,347,609


     51,526,164


57.87632




Earnings per share – basic and diluted (Rupees)


                29.90


                18.94


57.86695




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Posted on: 2023-04-27T14:38:42+05:00
The post PPL registers 58% YoY jump in net profit during 9MFY23 appeared first on Mettis Global Link .