PPL posts 18% net profit growth in first quarter

PPL posts 18% net profit growth in first quarter

KARACHI: Pakistan Petroleum Limited (PPL) has announced 18 per cent growth in net profit of the first quarter ended September 30, 2021.

The company announced profit after tax of Rs16.86 billion during the first quarter (July – September) of the current fiscal year as compared with Rs14.32 billion in the corresponding period of the last fiscal year.

PPL announced earnings per share at Rs6.2 for the quarter under review as compared with Rs5.26 EPS in the same quarter of the last year.

The board of directors of the company at its meeting held on Monday approved the unconsolidated and consolidated financial statements for the first quarter ended September 30, 2021.

The company declared revenue growth to Rs43.59 billion during the first quarter of the current fiscal year as compared with Rs39.32 billion in the same quarter of the last fiscal year.

Operating expenses of the company also grew to Rs10.43 billion as compared with Rs9.4 billion.

Under the head of royalties and other levies, the company paid an amount of Rs6.43 billion during the first quarter of the current fiscal year as compared with Rs5.95 billion in the same period of the last year.

The exploration expenses of the company increased to Rs4.86 billion during the quarter of July – September 2021 as compared with 2.29 billion in the same period of the last year.

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