Pakistan Petroleum to announce half yearly results on Wednesday: Rs 6-7/share dividend expected

ISLAMABAD: Pakistan Petroleum Limited (PPL) is scheduled to announce its 1HFY12 result on January 25, 2012. We estimate the company to post an EPS of Rs15.3 per share, up 21% as compared Rs12.6 per share in the same period last year.

The result is expected to be accompanied by a dividend announcement of Rs6-7 per share, says a press release issued here on Monday.

In 2Q alone, net earnings are expected to stand at Rs7.8 per share, up 4% from previous quarter and 16% up from same quarter last year.

Company’s other income is also expected to play its due role in improved profitability. During 2HFY12, other income is likely to grow by a colossal 65% to Rs3.1bn versus Rs1.9bn in 1HFY 11, while its contribution to PBT also improved by 2% to 10% as against 8% last year.

On the other hand, company’s field expenditure is likely to grow at a subdued pace of 11% to Rs11.1bn as against Rs10.0bn last year primarily on account of curtailed exploration activity. During the period under review, company drilled only 1 development well in its operating block, while its main focused remained skewed towards E&D activity from its JV partners in Tal and Nashpa.

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