Mari Energies Ltd. (MARI) has announced its financial results for the third quarter of FY25, reporting a net profit after tax (NPAT) of PKR 15.9 billion (EPS: PKR 13.25). This represents a significant 42% quarter-over-quarter and 13% year-over-year increase.

The company’s net revenue increased by 10% QoQ to PKR 45.6 billion, driven by higher oil prices. Operating expenses declined sharply by 45% quarter-over-quarter (QoQ) to PKR 8.3 billion, primarily due to the absence of a one-time amortisation charge.

MARI’s royalty expense increased by 45% quarter-over-quarter (QoQ) to PKR 11.6 billion, reflecting the full impact of the incremental royalty imposed on MARI D&P. The company’s finance income declined by 24% quarter-over-quarter (QoQ) to PKR 1.8 billion due to a drop in interest rates.

The Shewa field in the Waziristan block commenced production during the quarter, with initial flows of 55 mmcfd of gas and 585 bpd of oil. This is expected to support the company’s profitability partially.

For 9MFY25, MARI reported an NPAT of PKR 46.3 billion (EPS: PKR 38.54), down 10% year-over-year.

Courtesy – IMS Research