KARACHI: Mari Petroleum Company Limited’s profit increased 45 percent to Rs7.462 billion for the quarter ended September 30, 2019, translating into earnings per share (EPS) of Rs1.51.
The company had reported a profit of Rs5.14 billion in the same period of previous year, according to a notice sent to the Pakistan Stock Exchange (PSX) on Tuesday.
Topline in Q1FY20 witnessed a growth of 24 percent YoY arriving at Rs17,849 million as compared to Rs14,341 million during the same period last year, amid 44 percent YoY hike in average gas price given unwinding of entitlement factor of Mari gas field, and 21 percent YoY rupee devaluation against dollar.
Meanwhile, earnings per share of the company jumped to Rs55.94 in the Jul-Sept 2019 quarter from Rs38.55 in the same quarter of previous year.
Net sales were up 24.5% to Rs17.85 billion in the three-month period from Rs14.34 billion in the corresponding period of the previous year.
