Pakistan Petroleum Limited (PPL) has announced profit of Rs 11.2 billion for the last quarter ended on December 31 2012, registering an increase of 7.19 percent when compared with Rs 10.23 billion in the corresponding period of last year.
Besides, the PPL has announced the interim cash dividend at Rs 5.00 per share or 50 percent on fully paid ordinary shares for the year ending June 30, 2013 and in addition, Rs 3.00 per share or 30 percent on fully paid Convertible Preference Shares.
In this regard, the company has approved transfer of an amount of Rs 5.00 billion to dividend equalisation reserve from un-appropriated profits to maintain dividend declarations.
Moreover, the Earning Per Share (EPS) also witnessed a enhancement to Rs 6.71 in the last quarter of 2012 from Rs 6.22 in the last quarter of 2011.
The rise in the net profit of the company was due to an increase in net sale by 13.70 percent and a decrease in other operating expenses by 16.27 percent during the period under view.
However, the net sales stood at Rs 26.20 billion in the last quarter of the year against Rs 22.60 billion in the same period of last year.
The operating expenses recorded Rs 0.88 billion against Rs.1.05 billion last year during the period under view.
Apart from this, comparing the results of the second half of 2012 with the same period of last year, the profit of the company stood at Rs 22.32 billion, registering an increase of 9.87 percent against Rs 20.11 billion.
