PPL posted profit of Rs 11.02bn in last quarter

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ISLAMABAD: Pakistan Petroleum Limited (PPL) has announced the profit of Rs 11.2 billion for last quarter ending December 31 2012, registering an increase of 7.19 percent when compared it with Rs 10.23 billion in the corresponding period of last year.

Besides the PPL has announced the interim cash divided at Rs 5 per share or 50 percent on fully paid ordinary shares for the year ending June 30, 2013 and in addition, Rs 3 per share or 30 percent on fully paid Convertible Preference Shares.

In this regard, the Company has approved transfer of an amount of Rs 5 billion to dividend equalisation reserve from un-appropriated profits to maintain divide declarations.

Moreover the Earning Per Share (EPS) also has witnessed a enhancement to Rs 6.71 in the last quarter of 2012 from Rs 6.22 in the last quarter of 2011.

The rise in the net profit of company was due to an increase in net sale by 13.70 percent and a decrease in other operating expenses by 16.27 percent during the period under view.

However the net sale stood at Rs 26.20 billion in last quarter of the year against Rs 22.60 billion in the same period of last year.

The operating expenses recorded Rs 0.88 billion against Rs 1.05 billion during the period under view.

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