Posts

daily check

Mari Petroleum Company Limited (MARI) reported its 1QFY25 earnings earlier today, wherein the company posted Profit After Tax (PAT) of PkR19.2bn (EPS: PkR16.0) for the quarter, largely flat on a YoY— above our expectations. ·   Net sales clocked in at PkR45.3bn for the quarter, lower by 6%YoY. This was primarily driven by an appreciating domestic exchange rate (up 5% YoY), which resulted in slight downward adjustments to the company’s wellhead gas prices. ·   Notably, gas production remained flat on a YoY basis, estimated at 815mmcfd (vs. 818mmcfd in 1QFY24), while oil production rose by 8%YoY, reaching 1.2kbpd during the quarter, as per PPIS data.  ·   Operating expenses stood at PkR8.0bn for the quarter, up 6%YoY. Similarly, finance income stood higher by 35%YoY, due to elevated income yields and higher ST investments (Jun’24 cash and ST Investments : PkR75bn, up 35%YoY). ·   Exploration expenses amounted to PkR3.0bn, up 68%YoY, led by drilling activities in Spinwarm-1 in North Wazir
Post a Comment
Read more

NewsDaily

Interest rate cut to result in Rs1.3tr saving this fiscal: SBP governor State Bank of Pakistan (SBP) Governor Jameel Ahmad said that the current monetary policy has sufficient flexibility to manage fluctuations of 10-15 percent in oil prices and other commodities. He also noted that the reduction in interest rates and the timely use of surplus funds for debt profiling are expected to significantly lower the government’s debt servicing costs in fiscal year 2025. The government’s total interest expense for FY25 is now estimated to be Rs8.5 trillion, compared with Rs9.8 trillion projected in the budget for the current fiscal year. This reduction results in total savings of Rs1.3 trillion, which is approximately 1 percent of gross domestic product, thanks to the cuts in interest rates. These savings will aid in controlling the fiscal deficit for FY25. State Bank of Pakistan (SBP) Governor Jameel Ahmad said in an analyst briefing following the monetary policy meeting that the ADB is likely
Post a Comment
Read more

Fire and Blood

Image
the maesters of the itadel who keep the histories of Westeros have used Aegon’s Conquest as their touchstone for the past three hundred years. Births, deaths, battles, and other events are dated either AC (After the Conquest) or BC (Before the Conquest). True scholars know that such dating is far from precise. Aegon Targaryen’s conquest of the Seven Kingdoms did not take place in a single day. More than two years passed between Aegon’s landing and his Oldtown coronation…and even then the Conquest remained incomplete, since Dorne remained unsubdued. Sporadic attempts to bring the Dornishmen into the realm continued all through King Aegon’s reign and well into the reigns of his sons, making it impossible to fix a precise end date for the Wars of Conquest. Even the start date is a matter of some misconception. Many assume, wrongly, that the reign of King Aegon I Targaryen began on the day he landed at the mouth of the Blackwater Rush, beneath the three hills where the city of King’s
Post a Comment
Read more