Mari Petroleum’s announced its Quarterly Financial results where its profit for the December-2020 quarter increased by 0.7% to PKR 7.33 billion due to a significant decline in other expenses and an increase in revenue.
Sales revenue of the company stood at PKR 18.8 billion during the quarter, marking 13% increase as compared to lastquarter.
Operating expenses of the company increased from PKR 3.2 billion during October-December 2019 to PKR 4.1 billion during October-December 2020, an increase of 31%. The exploration expenditure stood at PKR 1.8 billion during the quarter, increase of 23% compared to PKR 1.5 billion in the same quarter of 2019.
Other expenses decreased by 98% due to a tangible decrease in a seismic activity in the year. Finance income decreased by 41% to PKR 812.7 million. Finance income had stood at PKR 1.38 billion in the last quarter of 2019
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