Pakistan Petroleum Ltd (PPL) has posted a weaker set of full‑year numbers after a year marked by falling field output and softer crude prices – an uncomfortable combination for an upstream company that earns on barrels and molecules lifted. For the twelve months to 30 June 2025, profit after tax fell 19.0% to Rs92.0 billion, translating into earnings per share of Rs33.8 versus Rs42.0 a year earlier. Full‑year sales slipped 16.0% to Rs242.5 billion as both oil and gas production nudged lower across the portfolio. The company paired its announcement with a fourth‑quarter cash dividend of Rs2.5 per share, bringing the FY25 payout to Rs7.5.
The core operational story is straightforward: production declined. PPL’s average oil output fell 10.0% to 10.2 k barrels per day, while gas output also dropped about 10.0% to 480 mmcfd. Layer on a weaker crude tape – Arab Light averaged $75.8 per barrel in FY25 against $87.0 in FY24 – and the top line was always going to be under pressure. Nasheed Malik, an analyst at Arif Habib Ltd, an investment bank, attributes the 16.0% revenue contraction largely to this dual hit of lower volumes and lower prices, a pattern that is also evident in 4QFY25, when revenue fell 19.0% year‑on‑year and 19.0% quarter‑on‑quarter to Rs51.8 billion. 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
