1QFY19 EPS Likely to Increase by 23% QoQ to PKR 46.5
Mari Petroleum Company Limited (MARI) is scheduled to announce its 1QFY19 result on October 18, 2018, wherein the company is expected to post an earnings growth of 23% QoQ to PKR 5,641m (EPS: PKR 46.5) during the quarter. Sequential growth for the quarter is likely to be driven by improved wellhead gas prices, currency depreciation and lower exploration cost (due to lower seismic activity). The company is also expected to write off the cost associated with a dry well, Qamar X-1 in Hala Block, which will have a net earnings impact of PKR 1.1/share. Moreover, effective tax rate is expected to normalize at 30% in 1QFY19 as against a low rate of 13% in 4QFY19.
Mari Petroleum Company Limited is a Pakistan-based exploration and production company. The Company is engaged in managing and operating Pakistan's gas reservoir at Mari Field, District Ghotki, Sindh. Its segments include Exploration and Production; Mari Seismic Unit, and Mari Drilling Unit. The Exploration and Production segment includes various upstream business activities. The Mari Seismic Unit segment includes two-dimensional (2D)/three-dimensional (3D) seismic data acquisition. The Mari Drilling Unit segment includes onshore drilling services. In addition to Mari Gas Field, it holds development and production leases over Zarghun South and Sujawal Gas Fields, and has operatorship of eight exploration blocks (Ziarat, Harnai, Sukkur, Sujawal, Karak, Ghauri, Peshawar East and Khetwaro). Its other products include crude oil, condensate and liquefied petroleum gas (LPG). Its exploration and production assets are spread across Pakistan in all four provinces.
Ismail Iqbal Securities (Private) Limited (IISPL) is a TREC holder of the Pakistan Stock Exchange, as well as an SECP registered Underwriter and Book Runner. IISPL provides comprehensive financial services including Equity Sales, Research on Equities and the Macro-Economy, Investment Advisory, Portfolio Management, Corporate Finance, and extensive services for Private Equity investors. IISPL services a diversified client base, from Institutional to Retail Investors including High Net worth Individuals.
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