Mari Petroleum Limited (MARI) announced its financial result Thursday where the bottom-line settled at Rs5,142 million during the first quarter financial year 2019 (1QFY19) vis-à-vis Rs3,613 million in 1QFY18, up by 42 per cent year-on-year (YoY).
Net Sales during the quarter clocked-in to Rs14,341 million from Rs9,335 million in the same-period-last-year (SPLY), showing a growth of 54 per cent YoY.
This massive surge is attributable to 4 per cent YoY uptick in gas production, a 53 per cent YoY hike in average gas prices amid an unwinding of entitlement factor of Mari gas field, average oil prices swelling up by 50 per cent YoY, and the Pak Rupee depreciation of 18 per cent YoY against US Dollar. Albeit, oil production declined by 19 per cent YoY.
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