PPL net profit declines to Rs 4.974 billion in first quarter fiscal year 2010

The profit after tax of Pakistan Petroleum Limited (PPL) has declined to Rs 4.974 billion in the quarter ended September 30, 2009, as compared to Rs 7.766 billion earned in the corresponding quarter in 2008. The board of directors of the company in its meeting held here on Saturday declared that the company's earning per share has declined to Rs 5.00 in the period under review against Rs 7.80 in the same period a year back.
According to the financial results, the company's net sales declined to Rs 12.187 billion in this quarter against Rs 15.805 billion in the same quarter last year. The company's field expenditure increased to Rs 3.299 billion against Rs 2.384 billion while royalties declined to Rs 1.456 billion against Rs 1.926 billion. The company's before tax profit stood at Rs 7.436 billion in the first quarter of FY10 against Rs 11.861 billion in the same quarter in FY09.