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KARACHI: Pakistan Petroleum Limited (PPL) has posted unconsolidated profit after tax of Rs 50.256 billion in FY20 as compared to Rs 61.632 billion in the same period in FY19, down 18 percent on year-on-year basis. The company's earning per shares (EPS) stood at Rs 18.5, down 18 percent as compared to Rs 22.7 in corresponding period last year.

Along with the result, company announced final dividend of Rs 1.0/share. This is the lowest payout ever since PPL listed on Pakistan Stock Exchange, Aftab Awan, an analyst at Sherman Securities said. This is primarily due to growing circular debt, he added.

Revenue clocked in at Rs 158 billion, depicting a decrease of 4 percent on YoY, mainly due to 12 percent decline in crude oil price in rupee terms and lower oil and gas production during the year. Interestingly, revenue decline remained limited due to higher proportion of gas related revenues, Aftab Awan said. Other income went down by 61 percent to Rs 6.5 billion. This could mainly be attributed to lower exchange gains booked during FY20.

Copyright Business Recorder, 2020