Net sales increa­se 50% to Rs8.68 billio­nKARACHI: Mari Petroleum Limited’s profit soared 73.5% to Rs3.20 billion in the quarter ended December 31, 2017 due to higher net sales and realisation of other income. Mari Petroleum’s share price improved 0.54%, or Rs8.40, to close at Rs1,563.59 with 5,080 shares changing hands at the PSX. The company recorded net sales of Rs8.68 billion, which was 50% higher than Rs5.79 billion. However, the company paid gas development surcharge worth Rs3.12 billion in the Oct-Dec quarter, which was almost half the Rs6.09 billion paid in the same quarter of previous year. A significant reduction in surcharge and sales tax payments helped the company book higher net sales.

Source: The Express Tribune February 23, 2018 04:30 UTC