PPL announced healthy 1HFY13 results – Alfalah Securities Limited

Karachi, February 06, 2013 (PPI-OT): Pakistan Petroleum Ltd. (PPL) has announced healthy 1H FY13 results posting profit after tax of PkR 22.3 bn (EPS: PkR 13.58) depicting a surge of 11% YoY as against PkR 20.1 bn (EPS: PkR 12.24) during the same period last year. PPL’s management has also announced an interim cash dividend of PkR 5.0 per share.

According to Alfalah Securities Limited, the net sales increased by 12% YoY to PkR 50.7 bn in 1HFY13 due to higher production of oil and gas particularly from Nashpa fields, higher well head gas prices and devaluation of Pak Rupee against US dollar. Alfalah Securities Limited recommends a Buy on PPL with target price of PkR 222.0 per share.

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