Mari Petroleum Company Limited is expected to announce its 1HFY22’s financial result on 24th Jan’22, where we forecast earnings to clock-in at PKR 17,872mn (EPS: PKR 133.97) against PKR 16,401mn (EPS: PKR 122.95) in 1HFY21, up by 9% YoY. This jump is attributable to 38% and 3% YoY growth in oil and gas production, respectively.

Meanwhile, wellhead price of Mari Gas Field dropped by 1% YoY. On a quarterly basis, 2QFY22’s profitability is expected to climb up by 20% YoY, settling at PKR 8,774mn (EPS: PKR 65.77) amid 7% and 5% YoY growth in oil and gas production, respectively tagged with Pak Rupee depreciation of 8% YoY against greenback. The exploration cost is expected to climb up by 26% YoY, arriving at PKR 2,271mn in 2QFY22 owed to dry well Mari PKL South-01 incurred during the quarter.

Along with the result, the company is expected to announce an interim cash dividend of PKR 75.00/share.

Courtesy -AHL Research