Mari Energies Ltd – until last year known as Mari Petroleum Company – has posted another year of double‑digit earnings growth, shrugging off a difficult pricing environment and pipeline constraints. For the year to December 2024 the company reported profit after tax of Rs77.29 billion, up 38% on the previous year, translating into earnings per share of Rs64.37 versus Rs46.75 in calendar year 2023. Top‑line revenue expanded 25% to Rs181.83 billion, while operating profit climbed an impressive 30% to Rs110.90 billion. A softer royalty burden in percentage terms, lower exploration write‑offs and disciplined field costs all helped reinforce the bottom line.
Momentum continued into the current year: in first quarter of calendar year 2025 the explorer booked EPS of Rs13.25, 13% higher than the same quarter last year, even though net sales for the period dipped 5% owing to temporary pipeline curtailments as imported LNG crowded out indigenous volumes. Management told analysts during a post‑results briefing that throughput at key downstream offtakers has since normalised, setting the stage for a stronger second quarter. The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
