KARACHI: Pakistan Petroleum Ltd (PPL) posted profit after tax at Rs50.3 billion for the year ended June 30, translating into earnings per share at Rs18.47.

The figures represented a decline of 18pc over the earlier year’s PAT at Rs61.6bn and EP Rs22.65. The board recommended final cash dividend at Re1 per share.

Revenue from contracts with customers decreased 4pc over the previous year to Rs157.6bn. Analysts said the sales fall was due to dip in Sui wellhead price by 3pc, drop of 12pc and 11pc in oil and gas production, respectively, and slump in oil prices by 25pc.

Amreli Steels bleeds Rs1.13bn

Amreli Steels Ltd recorded net loss of Rs1.13bn for FY20 and loss per share at Rs3.79 as against a minor PAT of Rs33m and EPS Rs0.11 the previous year.

Net sales slipped 7pc for the latest year to Rs26.5bn, from Rs28.6bn. Significant increase of 82pc in finance costs to Rs2.30bn mainly dragged the bottom line in the red.

Published in Dawn, September 12th, 2020