Wednesday, January 27, 2021

MARI profitability to surge by 52% YoY in 9MFY19

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Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

Mari Petroleum Limited (MARI) is scheduled to announce its financial result for 9MFY19 on 19th April’19, analysts expect the company to post a profit after tax (PAT) of PKR 16,418mn (EPS: PKR 135.37) compared to PKR 10,784mn (EPS: PKR 88.92) during same period last year (up by 52% YoY).

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This was led by a 46% YoY surge in topline, given 53% YoY hike in wellhead price of Mari gas field tagged with 19% YoY higher oil prices and 2% YoY uptick in gas production during 9MFY19.

On a sequential basis, earnings are expected to swell up by 35% YoY to PKR 5,359mn (EPS: PKR 44.19) from PKR 3,969mn (EPS: PKR 32.73) in SPLY, amid entitlement factor of Mari gas field and Pak Rupee depreciated against USD by 20% YoY.

However, oil and gas production declined by 23% and 6% YoY, respectively. Furthermore, analysts expect the exploration costs to climb up by 188% YoY due to higher prospecting expenditure during the quarter.

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Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]
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