Mari Petroleum Company Limited is expected to announce its 1QFY22 result on 26th Oct’21, where we forecast net profit to settle at PKR 9,201mn (EPS: PKR 68.97) 1QFY22 against PKR 9,066mn (EPS: PKR 67.96) in 1QFY21, up by 1% YoY.

This uptick is attributable to an increase in oil and gas production by 62% and 1% YoY, respectively.

Meanwhile, the wellhead price of Mari Field dropped by 1% YoY. Moreover, the exploration cost is expected to ascend by 47% YoY, arriving at PKR 1,794mn in 1QFY22 on the back of dry well Daim-1 reported during the quarter. The profitability is expected to grow by 14% QoQ owed to 2% growth in gas production along with 15% higher wellhead price of Mari Field.

Alongside the result, we expect the company to announce an interim cash dividend of PKR 41.00/share.

Courtesy – AHL Research