The profit after tax of Mari Gas Company Limited has increased to Rs 603.694 million in the quarter ended December 31, 2011 as compared to Rs 157.523 million earned in the corresponding period in 2010. The company's earning per share increased to Rs 1.22 on the basis of distributable profit in the period under review against Rs 1.04 in the same period a year back while the earning per share, on the basis of profit and loss account, surged to Rs 6.57 against Rs 1.71.
The board of directors of the company, in its meeting held on Thursday, recommended first interim cash dividend at Rs 2.368 per share ie 23.68 percent for the year ending June 30, 2012. According to the financial results sent to Karachi Stock Exchange, the company's gross sales to customers increased to Rs 8.845 billion in this quarter against Rs 7.801 billion in the same quarter a year back.
The company's net sales, after paying gas-development surcharge, general sales tax, excise duty, windfall levy, provisional adjustment as per the Mari Gas Wellhead price adjustment, stood at Rs 2.085 billion in this quarter against Rs 1.625 billion in 2010.
The company paid Rs 259.686 million as royalty in this quarter against Rs 172.957 million paid in the same account in the same quarter a year back. Similarly, the company's profit before taxation increased to Rs 784.918 million in the second quarter of FY12 against Rs 568.635 million in FY11. On six months basis, the company's profit after tax increased to Rs 1,396.290 million in the half year period ended December 31, 2011 against Rs 529.275 million in the same period in 2010.
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