PPL’s earnings jump 44%, clock in at Rs69.8bn in 1HFY24

Pakistan Petroleum Limited (PPL), a key supplier of natural gas in the county, saw its profit-after-tax (PAT) jump nearly 44% to clock in at Rs69.78 billion for the half-year ended December 31, 2023.

In the same period last year, the exploration and production company saw PAT of Rs48.49 billion.

According to a notice to the Pakistan Stock Exchange (PSX) on Monday, the board of directors met on February 26 to review the company’s financial and operational performance and also approved an interim cash dividend for the year ending 30th June 2024 of Rs2.50 per share i.e. 25% on ordinary shares and Rs2.50 per share i.e. 25% on convertible preference shares.

Earnings per share (EPS) were recorded at Rs25.65 in 1HFY2024 as compared to EPS of Rs17.82 in the same period last year (SPLY).

The growth comes on the back of increased sales and significant improvement in the E&Ps other income.