Showing posts with label PPL profit up by 10 percent. Show all posts
Showing posts with label PPL profit up by 10 percent. Show all posts

Friday 24 October 2014

Pakistan Petroleum quarterly profit up by 10 percent

Pakistan Petroleum Limited (PPL) has announced its 1QFY15 financial results posting profit after tax of Rs13.69 billion (EPS: Rs6.94) as compared to net profit of Rs12.48 billion (EPS: Rs6.33) for 1QFY14, registering a growth of 10%YoY. Major factor responsible for 1QFY15 earnings growth remained 11%YoY increase in revenue.

This growth in revenue was underpinned by expected 35%YoY increase in production coming in from Tal block, which is likely to have boosted company’s crude oil production up by 22% to 14,200 barrels per day (bpd) as compared to 11,600 bpd for 1QFY14.

Key result highlights include: 1) lower effective tax rate at 30.4% in 1QFY15 as compared to 33.7% during the same period FY14 and 2) operating margins shrinking to 59.9% for 1QFY15 due to 29%YoY increase in field expenditures.