ANNUAL FINANCIAL PERFORMANCE REVIEW ON PAKISTAN PETROLEUM LIMITED REPORTS GROWTH

Karachi: Pakistan Petroleum Limited (PPL) has reported its annual financial performance, with a significant increase in profit after taxation for the fiscal year ending June 30, 2024. The company announced a final cash dividend of Rs. 2.50 per share, pending approval at the Annual General Meeting scheduled for October 25, 2024.

In the unconsolidated financial statements for the year, PPL’s revenue from contracts with customers rose to Rs. 288.80 billion, up from Rs. 286.48 billion in the previous year. Operating expenses and royalties levied showed adjustments, with total comprehensive income for the year notably higher than the previous period.

According to information available from the Pakistan Stock Exchange (PSX), the Board of Directors, during their September 20, 2024 meeting, approved these financial statements. They highlighted a noteworthy profit after taxation, which amounted to Rs. 114.31 billion, compared to Rs. 97.94 billion recorded in 2023. This represents a growth in earnings per share from Rs. 35.99 to Rs. 42.01.

The consolidated financial figures were similarly robust, with a reported revenue from contracts with customers reaching Rs. 291.24 billion. Gross profit stood at Rs. 189.90 billion, with profit before taxation pegged at Rs. 160.28 billion after adjustments for operating expenses and other charges.

In anticipation of the AGM, the Share Transfer Books will remain closed from October 18 to 25, 2024, with dividends payable to registered shareholders as of the close of business on October 17, 2024.

The post ANNUAL FINANCIAL PERFORMANCE REVIEW ON PAKISTAN PETROLEUM LIMITED REPORTS GROWTH appeared first on .