Mari Petroleum Company Limited (MARI): Earnings Miss on Reversal of Exploration Expense – By IIS Research
<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Mari Petroleum Company Limited (MARI PA) has announced its
4QFY24 profit of PKR25.6b (PKR192.34/share), up by 62% YoY & 82% on QoQ
basis. The result is above our expectations mainly due to potential reversal of
impairments recorded in the last quarter.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Company has also announced final cash dividend of PKR134/sh,
taking full year dividend to PKR232/sh, along with an 800% bonus share.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">During 4Q, Revenue witnessed decline of 15% YoY (17% QoQ),
mainly due to lower gas offtakes because of EFERT plant turnaround.</span></li></ul><p></p>
