Pakistan Petroleum Limited (PPL) is expected to announce its 1HFY22’s financial result on 25th Feb’22, where we project Company’s bottom-line to arrive at PKR 32,815mn (EPS: PKR 12.06) compared to PKR 26,237mn (EPS: PKR 9.64) in 1HFY21, up by 25% YoY. This growth is attributable to i) increase in Sui wellhead price by 5% YoY, and ii) higher oil prices.
Meanwhile, in 2QFY22, the net profit is expected to climb up by of 33% YoY, clocking-in at PKR 15,824mn (EPS: PKR 5.82) against PKR 11,886mn (EPS: PKR 4.37) in SPLY, given i) 8% YoY Pak Rupee devaluation against USD, ii) massive surge of 83% YoY in oil prices, and iii) higher Sui wellhead price.
Furthermore, the oil and gas production plummeted by 6% and 7% YoY, respectively. Pertinently, we expect the exploration expense to ascend by 3.6x YoY in 2QFY22 to PKR 3,061mn amid dry well Qasar X-01 incurred during the quarter. In addition to this, we expect the company to announce an interim cash dividend of PKR 2.00/share in 2QFY22 (2QFY21: PKR 1.50/share).
Courtesy – AHL Research