KARACHI: Mari Petroleum Company Ltd (MPCL) has recorded the highest-ever earnings of Rs77 billion during FY24 from Rs56bn in FY23, up by 38 per cent.

The company declared a final cash dividend along with interim dividend of Rs232 per share for FY24, thus translating into payout ratio of 40pc in FY24 compared to 35pc in FY23. Mari also announced a bonus of 800pc (eight shares for every one share held).

According to Sunny Kumar of Topline Securities, net sales increased by 25pc year-on-year in FY24 where hydrocarbon sales volume clocked in at 39.01 million barrel of oil equivalen, up 7pc year-on-year. Net sales surged by 25pc to Rs181bn from Rs146bn in FY23.

A five-year extension of Mari D&P lease was approved by the government, extending the company’s rights on the lease until November 2029 with an additional payment of 15pc wellhead value.

Mari’s subsidiary Mari Mining Co (Pvt) Ltd has been awarded two mineral exploration licences in Chaghi district of Balochistan.

Meezan earns Rs26.9bn

Meezan Bank Ltd (MBL) on Thursday reported its consolidated earnings surged 55pc to Rs26.89bn in the second quarter of calendar 2024 from Rs17.39bn in the same period last year.

Earnings per share (EPS) rose to Rs14.90 compared to Rs9.66. In a stock filing, the bank informed the Pakistan Stock Exchange that the board of directors announced a cash dividend of Rs7 per share for the first half of 2024.

Published in Dawn, August 9th, 2024

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

From hard to harder

From hard to harder

Instead of ‘hard state’ turning even harder, citizens deserve a state that goes soft on them in delivering democratic and development aspirations.

Editorial

Canal unrest
Updated 03 Apr, 2025

Canal unrest

With rising water scarcity in Indus system, it is crucial to move towards a consensus-driven policymaking process.
Iran-US tension
03 Apr, 2025

Iran-US tension

THE Trump administration’s threats aimed at Iran do not bode well for global peace, and unless Washington changes...
Flights to history
03 Apr, 2025

Flights to history

MOHENJODARO could have been the forgotten gold we desperately need. Instead, this 5,000-year-old well of antiquity ...
Eid amidst crises
Updated 31 Mar, 2025

Eid amidst crises

Until the Muslim world takes practical steps to end these atrocities, these besieged populations will see no joy.
Women’s rights
Updated 01 Apr, 2025

Women’s rights

Such judgements, and others directly impacting women’s rights should be given more airtime in media.
Not helping
Updated 02 Apr, 2025

Not helping

If it's committed to peace in Balochistan, the state must draw a line between militancy and legitimate protest.