PPL announces Rs31.14 billion half year profit

PPL announces Rs31.14 billion half year profit

KARACHI: Pakistan Petroleum Limited (PPL) on Friday announced financial results for the half year ended December 31, 2021. The company announced Rs31.14 billion as net profit for the half year.

The net profit of the company grew by over 19 per cent when compared with Rs26.11 billion in the same half of the last year.

Pakistan Petroleum Limited is a Pakistani state-owned petroleum company. The company announced earnings per share at Rs11.44 for the half year ended December 31, 2021 as compared with Rs9.59 in the same period of the last year.

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The board of directors of the company at its meeting held on February 25, 2022 approved the financial statements for the half year ended December 31, 2021.

The board of directors approved an interim cash dividend for the year ending June 30, 2022 of Rs1.50 per share on ordinary shares and Rs1.5 per share on convertible preference shares. The dividend will be distributed to those members whose names appear in the register of members of the company as at the close of business on March 10, 2022.

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According to the financial results, the revenue of the company increased to Rs90.42 billion for the half year ended December 31, 2021 as compared with Rs75.81 billion in the same half of the preceding year.

Operating expenses of the company eased to Rs19.96 billion when compared with Rs22.18 billion.

Exploration expenses during the half ended December 31, 2021 increased sharply to Rs9.04 billion as compared with Rs3.27 billion in the same half of the last year.

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