Fakiha Tariq

The net profit of Pakistan Petroleum Limited (PPL) jumped 56.4% in the first nine months (July-March) of the last fiscal year 2022-23 as compared to the corresponding period of the year earlier, WealthPK reports During the same period, the PPL’s revenue increased by 52.5% and gross profit by 57.6%, respectively. PPL made gross sales of Rs214 billion in 9MFY23, and posted a gross profit of Rs143 billion on them, thus coming up with a gross profit ratio of 67%. The company posted a net profit of Rs81 billion and a net profit ratio of 38.21%, respectively. PPL posted earnings per share of Rs30.08 in the nine-monthly period of FY23.

PPL’s revenue stood at Rs140 billion, gross profit at Rs90 billion and net profit at Rs52 billion, respectively, in 9MFY22. The company posted EPS of Rs19.23 in 9MFY22. Registered on Pakistan Stock Exchange with the symbol ‘PPL’, Pakistan Petroleum Limited is the third-largest firm in the oil and gas exploration sector with a market capitalisation of Rs191.1 billion. PPL is also the seventh-largest company listed on PSX-KSE-100 index.

Quarterly Review

The quarter-based profitability comparison reveals that PPL overall remained in profit during all three quarters of trade. The company made highest gross and net profits in the third quarter (January-March) of FY23 followed by the first and second quarters. In the July-September quarter, PPL posted a revenue of Rs72 billion and earned a gross profit of Rs48 billion on it. The company posted a net profit of Rs26 billion. Therefore, the gross and net profit ratios were reported to be 67% and 36.7%, respectively. In 1QFY23, the company reported earnings

In the October-December quarter, PPL posted a gross revenue of Rs65 billion, a gross profit of Rs42 billion and a net profit of Rs22 billion. Thus, the gross and net profit ratios were reported to be 66% and 34.3%, respectively. In 2QFY23, the company reported earnings per share of Rs8.20. In the third quarter of FY23, the company posted a gross revenue of Rs76 billion – the highest of all three quarters – and a gross profit of Rs52 billion. The company posted a net profit of Rs32 billion during this period. Thus, the gross profit and net profit margins turned out to be 68% and 43%, respectively. PPL posted earnings per share of Rs12.09 in the third quarter.

Credit: INP-WealthPk