Pakistan Petroleum Ltd (PPL) reported its 3QFY26 financial results, in which the company posted a consolidated NPAT of PkR20.6bn (EPS: PkR7.6), down 6% YoY. The result was below expectations due to higher-than-anticipated operating expenses. The company also announced an interim cash payout of PkR2.0/sh, bringing 9MFY26 cumulative DPS to PkR6.0/sh (vs. PkR5.0/sh in 9MFY25, +20 % YoY).

·        Net sales clocked in at PkR61.6bn (-4%YoY/flat QoQ), with the YoY softness led by lower wellhead gas prices despite +3%YoY recovery in Arab Light to US$80.3/bbl during 3QFY26.

·        Company’s oil production arrived in at 11.2k bpd (up 7%YoY), while gas production clocked in at 588mmcfd (up 2%YoY) as per PPIS convention.  Notably, major recoveries in production were witnessed in Sui and Kandhkot gas fields during the period

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