{"id":4467,"date":"2024-04-29T15:00:10","date_gmt":"2024-04-29T10:00:10","guid":{"rendered":"https:\/\/ksestocks.com\/blog\/?p=4467"},"modified":"2024-04-29T15:00:13","modified_gmt":"2024-04-29T10:00:13","slug":"pakistan-petroleum-limited-ppl-announces-q3-financial-results","status":"publish","type":"post","link":"https:\/\/ksestocks.com\/blog\/pakistan-petroleum-limited-ppl-announces-q3-financial-results\/","title":{"rendered":"Pakistan Petroleum Limited (PPL) announces Q3 financial results"},"content":{"rendered":"\n<p>Insight Research has just released an update on Pakistan Petroleum Limited&#8217;s (PPL PA) recent quarterly results. Here are the important points from the earnings announcement:<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Decline in Profitability<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Pakistan Petroleum Limited (PPL PA) announced its 3QFY24 result, posting a Profit After Tax (PAT) of <strong>PKR27.6 billion<\/strong> with Earnings Per Share (<strong>EPS<\/strong>) at <strong>PKR10.2<\/strong>. This is a decrease of 16% Year-over-Year (YoY) from the previous year&#8217;s PAT of <strong>PKR32.9 billion<\/strong> (EPS: <strong>PKR12.1<\/strong>).<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Revenue Trends<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Revenue for the quarter decreased by <strong>2%<\/strong> YoY, primarily due to lower hydrocarbon production. However, on a sequential basis, revenue increased by <strong>4%<\/strong> Quarter-over-Quarter (QoQ) driven by higher gas production and elevated well head prices.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Operating Expenses<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Operating expenses increased by <strong>3%<\/strong> YoY, amounting to <strong>PKR13.0 billion<\/strong> during the quarter.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Exploration Expenses<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Exploration expenses decreased significantly by <strong>14%<\/strong> YoY and <strong>48<\/strong>% QoQ, totaling approximately <strong>PKR3.4 billion<\/strong> in 3QFY24. This decline may be attributed to reduced exploration activity. Notably, the company recorded a dry well expense of PKR3.3 billion in the previous quarter (2QFY24).<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Other Income<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Other income witnessed a substantial decline of <strong>54%<\/strong> YoY, amounting to approximately <strong>PKR3.8 billio<\/strong>n in 3QFY24. This decrease is attributed to the absence of a significant exchange gain recorded in the same quarter of the previous fiscal year.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Taxation<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The effective tax rate for the quarter stood at <strong>37.6%<\/strong>, compared to <strong>34.8%<\/strong> in the same period last year.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Dividend Announcement<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Alongside the financial results, Pakistan Petroleum Limited (PPL PA) announced a cash dividend of PKR1.0 per share in 3QFY24, bringing the total dividend for 9MFY24 to PKR3.5 per share.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\">Metric<\/th><th class=\"has-text-align-left\" data-align=\"left\">3QFY24<\/th><th class=\"has-text-align-left\" data-align=\"left\">3QFY23<\/th><th class=\"has-text-align-left\" data-align=\"left\">2QFY24<\/th><th class=\"has-text-align-left\" data-align=\"left\">YoY<\/th><th class=\"has-text-align-left\" data-align=\"left\">QoQ<\/th><th class=\"has-text-align-left\" data-align=\"left\">9MFY24<\/th><th class=\"has-text-align-left\" data-align=\"left\">9MFY23<\/th><th class=\"has-text-align-left\" data-align=\"left\">YoY<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">Net Sales<\/td><td class=\"has-text-align-left\" data-align=\"left\">74,906<\/td><td class=\"has-text-align-left\" data-align=\"left\">76,518<\/td><td class=\"has-text-align-left\" data-align=\"left\">72,307<\/td><td class=\"has-text-align-left\" data-align=\"left\">-2%<\/td><td class=\"has-text-align-left\" data-align=\"left\">4%<\/td><td class=\"has-text-align-left\" data-align=\"left\">224,660<\/td><td class=\"has-text-align-left\" data-align=\"left\">214,175<\/td><td class=\"has-text-align-left\" data-align=\"left\">5%<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Operating Expenses<\/td><td class=\"has-text-align-left\" data-align=\"left\">12,953<\/td><td class=\"has-text-align-left\" data-align=\"left\">12,584<\/td><td class=\"has-text-align-left\" data-align=\"left\">12,329<\/td><td class=\"has-text-align-left\" data-align=\"left\">3%<\/td><td class=\"has-text-align-left\" data-align=\"left\">5%<\/td><td class=\"has-text-align-left\" data-align=\"left\">37,777<\/td><td class=\"has-text-align-left\" data-align=\"left\">36,074<\/td><td class=\"has-text-align-left\" data-align=\"left\">5%<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Royalties &amp; Other Levies<\/td><td class=\"has-text-align-left\" data-align=\"left\">10,943<\/td><td class=\"has-text-align-left\" data-align=\"left\">11,882<\/td><td class=\"has-text-align-left\" data-align=\"left\">11,064<\/td><td class=\"has-text-align-left\" data-align=\"left\">-8%<\/td><td class=\"has-text-align-left\" data-align=\"left\">-1%<\/td><td class=\"has-text-align-left\" data-align=\"left\">34,299<\/td><td class=\"has-text-align-left\" data-align=\"left\">34,749<\/td><td class=\"has-text-align-left\" data-align=\"left\">-1%<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Gross Profit<\/td><td class=\"has-text-align-left\" data-align=\"left\">51,010<\/td><td class=\"has-text-align-left\" data-align=\"left\">52,053<\/td><td class=\"has-text-align-left\" data-align=\"left\">48,915<\/td><td class=\"has-text-align-left\" data-align=\"left\">-2%<\/td><td class=\"has-text-align-left\" data-align=\"left\">4%<\/td><td class=\"has-text-align-left\" data-align=\"left\">152,585<\/td><td class=\"has-text-align-left\" data-align=\"left\">143,352<\/td><td class=\"has-text-align-left\" data-align=\"left\">6%<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Exploration Expenses<\/td><td class=\"has-text-align-left\" data-align=\"left\">3,406<\/td><td class=\"has-text-align-left\" data-align=\"left\">3,942<\/td><td class=\"has-text-align-left\" data-align=\"left\">6,590<\/td><td class=\"has-text-align-left\" data-align=\"left\">-14%<\/td><td class=\"has-text-align-left\" data-align=\"left\">-48%<\/td><td class=\"has-text-align-left\" data-align=\"left\">11,995<\/td><td class=\"has-text-align-left\" data-align=\"left\">12,949<\/td><td class=\"has-text-align-left\" data-align=\"left\">-7%<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Admin Expenses<\/td><td class=\"has-text-align-left\" data-align=\"left\">1,164<\/td><td class=\"has-text-align-left\" data-align=\"left\">996<\/td><td class=\"has-text-align-left\" data-align=\"left\">963<\/td><td class=\"has-text-align-left\" data-align=\"left\">17%<\/td><td class=\"has-text-align-left\" data-align=\"left\">21%<\/td><td class=\"has-text-align-left\" data-align=\"left\">3,333<\/td><td class=\"has-text-align-left\" data-align=\"left\">2,786<\/td><td class=\"has-text-align-left\" data-align=\"left\">20%<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Finance Costs<\/td><td class=\"has-text-align-left\" data-align=\"left\">366<\/td><td class=\"has-text-align-left\" data-align=\"left\">348<\/td><td class=\"has-text-align-left\" data-align=\"left\">407<\/td><td class=\"has-text-align-left\" data-align=\"left\">5%<\/td><td class=\"has-text-align-left\" data-align=\"left\">-10%<\/td><td class=\"has-text-align-left\" data-align=\"left\">1,184<\/td><td class=\"has-text-align-left\" data-align=\"left\">1,052<\/td><td class=\"has-text-align-left\" data-align=\"left\">13%<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Other Charges<\/td><td class=\"has-text-align-left\" data-align=\"left\">5,028<\/td><td class=\"has-text-align-left\" data-align=\"left\">4,426<\/td><td class=\"has-text-align-left\" data-align=\"left\">4,962<\/td><td class=\"has-text-align-left\" data-align=\"left\">14%<\/td><td class=\"has-text-align-left\" data-align=\"left\">1%<\/td><td class=\"has-text-align-left\" data-align=\"left\">14,230<\/td><td class=\"has-text-align-left\" data-align=\"left\">12,469<\/td><td class=\"has-text-align-left\" data-align=\"left\">14%<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Other Income<\/td><td class=\"has-text-align-left\" data-align=\"left\">3,806<\/td><td class=\"has-text-align-left\" data-align=\"left\">8,235<\/td><td class=\"has-text-align-left\" data-align=\"left\">3,978<\/td><td class=\"has-text-align-left\" data-align=\"left\">-54%<\/td><td class=\"has-text-align-left\" data-align=\"left\">-4%<\/td><td class=\"has-text-align-left\" data-align=\"left\">11,538<\/td><td class=\"has-text-align-left\" data-align=\"left\">14,898<\/td><td class=\"has-text-align-left\" data-align=\"left\">-23%<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Profit Before Taxation<\/td><td class=\"has-text-align-left\" data-align=\"left\">44,254<\/td><td class=\"has-text-align-left\" data-align=\"left\">50,486<\/td><td class=\"has-text-align-left\" data-align=\"left\">39,584<\/td><td class=\"has-text-align-left\" data-align=\"left\">-12%<\/td><td class=\"has-text-align-left\" data-align=\"left\">12%<\/td><td class=\"has-text-align-left\" data-align=\"left\">131,558<\/td><td class=\"has-text-align-left\" data-align=\"left\">128,769<\/td><td class=\"has-text-align-left\" data-align=\"left\">2%<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Taxation<\/td><td class=\"has-text-align-left\" data-align=\"left\">16,620<\/td><td class=\"has-text-align-left\" data-align=\"left\">17,588<\/td><td class=\"has-text-align-left\" data-align=\"left\">433<\/td><td class=\"has-text-align-left\" data-align=\"left\">-6%<\/td><td class=\"has-text-align-left\" data-align=\"left\">3736%<\/td><td class=\"has-text-align-left\" data-align=\"left\">35,147<\/td><td class=\"has-text-align-left\" data-align=\"left\">46,934<\/td><td class=\"has-text-align-left\" data-align=\"left\">-25%<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Profit After Taxation<\/td><td class=\"has-text-align-left\" data-align=\"left\">27,634<\/td><td class=\"has-text-align-left\" data-align=\"left\">32,898<\/td><td class=\"has-text-align-left\" data-align=\"left\">39,150<\/td><td class=\"has-text-align-left\" data-align=\"left\">-16%<\/td><td class=\"has-text-align-left\" data-align=\"left\">-29%<\/td><td class=\"has-text-align-left\" data-align=\"left\">96,411<\/td><td class=\"has-text-align-left\" data-align=\"left\">81,835<\/td><td class=\"has-text-align-left\" data-align=\"left\">18%<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">EPS<\/td><td class=\"has-text-align-left\" data-align=\"left\">10.16<\/td><td class=\"has-text-align-left\" data-align=\"left\">12.09<\/td><td class=\"has-text-align-left\" data-align=\"left\">14.39<\/td><td class=\"has-text-align-left\" data-align=\"left\">&#8211;<\/td><td class=\"has-text-align-left\" data-align=\"left\">&#8211;<\/td><td class=\"has-text-align-left\" data-align=\"left\">35.43<\/td><td class=\"has-text-align-left\" data-align=\"left\">30.08<\/td><td class=\"has-text-align-left\" data-align=\"left\">&#8211;<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">DPS<\/td><td class=\"has-text-align-left\" data-align=\"left\">1.00<\/td><td class=\"has-text-align-left\" data-align=\"left\">&#8211;<\/td><td class=\"has-text-align-left\" data-align=\"left\">2.50<\/td><td class=\"has-text-align-left\" data-align=\"left\">&#8211;<\/td><td class=\"has-text-align-left\" data-align=\"left\">&#8211;<\/td><td class=\"has-text-align-left\" data-align=\"left\">3.50<\/td><td class=\"has-text-align-left\" data-align=\"left\">1.00<\/td><td class=\"has-text-align-left\" data-align=\"left\">&#8211;<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\"><strong>Source:<\/strong><em> Company Accounts, Insight Research<\/em><\/figcaption><\/figure>\n\n\n\n<p><strong>Disclaimer:<\/strong><\/p>\n\n\n\n<p><em>The information in this article is based on research by Insight Research. All efforts have been made to ensure the data represented in this article is as per the research report. This report should not be considered investment advice. Readers are encouraged to consult a qualified financial advisor before making any investment decisions.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Insight Research has just released an update on Pakistan Petroleum Limited&#8217;s (PPL PA) recent quarterly results. Here are the important points from the earnings announcement:<\/p>\n","protected":false},"author":8,"featured_media":4472,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[138],"tags":[201],"class_list":["post-4467","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financials","tag-ppl"],"featured_image_src":{"landsacpe":["https:\/\/ksestocks.com\/blog\/wp-content\/uploads\/2024\/04\/PPL-Financials-1-1140x445.png",1140,445,true],"list":["https:\/\/ksestocks.com\/blog\/wp-content\/uploads\/2024\/04\/PPL-Financials-1-463x348.png",463,348,true],"medium":["https:\/\/ksestocks.com\/blog\/wp-content\/uploads\/2024\/04\/PPL-Financials-1-300x188.png",300,188,true],"full":["https:\/\/ksestocks.com\/blog\/wp-content\/uploads\/2024\/04\/PPL-Financials-1.png",1920,1200,false]},"_links":{"self":[{"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/posts\/4467","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/comments?post=4467"}],"version-history":[{"count":0,"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/posts\/4467\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/media\/4472"}],"wp:attachment":[{"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/media?parent=4467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/categories?post=4467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/tags?post=4467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}