PPL declares decline in net profit to Rs38.12 billion during nine months

PPL declares decline in net profit to Rs38.12 billion during nine months

KARACHI: Pakistan Petroleum Limited (PPL) on Thursday declared decline in net profit to Rs38.12 billion for the nine-month period ended March 31, 2021.

According to unconsolidated financial results submitted to Pakistan Stock Exchange (PSX), the petroleum company declared Rs38.12 billion during first nine months (July – March) 2020/2021 as compared with Rs39.23 billion in the corresponding period of the last fiscal year.

Revenue of the company fell to Rs112.23 billion during the period under review as compared with the revenue of Rs126.23 billion in the same period of the last fiscal year.

Operating expenses of PPL also eased to Rs32.45 billion during the nine-month period ended March 31, 2021 as compared with Rs33.04 billion in the same period of the last fiscal year.

The company paid royalties and other levies to the tune of Rs16.67 billion during first nine months of the current fiscal year as compared with Rs18.88 billion in the corresponding period of the last fiscal year.

Exploration expenses fell drastically during the period under review. The expenses under this head fell to Rs3.62 billion during July – March 2020/2021 as compared with Rs13.76 billion in the same period of the last fiscal year.

The net profit of the company for the quarter ended March 31, 2021 also fell to Rs11.88 billion when compared with Rs14.67 billion in the same quarter of the last year.

Leave a Reply

You have to agree to the comment policy.