Pakistan Petroleum Limited (PPL) is expected to announce its 9MFY22’s financial result on 27th Apr’22, where we project the company’s bottom-line to clock in at PKR 51,691mn (EPS: PKR 19.00) in contrast to PKR 38,118mn (EPS: PKR 14.01) in 9MFY21, up by 36% YoY.

This growth is attributable to i) a jump in Sui wellhead price by 16% YoY and ii) higher oil prices. Meanwhile, in 3QFY22, the earnings are expected to ascend by 68% YoY, arriving at PKR 19,982mn (EPS: PKR 7.34) compared to PKR 11,881mn (EPS: PKR 4.37) in SPLY, amid i) 11% YoY Pak Rupee devaluation against USD, ii) massive surge of 66% YoY in oil prices, and iii) increase in Sui wellhead price by 29% YoY.

Meanwhile, oil and gas production declined by 14% and 4% YoY.

Furthermore, we expect the exploration expense to climb by 2x YoY in 3QFY22 to PKR 951mn, given higher seismic data acquisition.

Courtesy – AHL Research.