Earnings Report /
Pakistan

Pakistan Petroleum: 1QFY22 review – misses estimate on higher Opex & exploratory expenses

  • PPL’s 1QFY22 result misses expectations due to higher Opex and exploratory

  • It has booked higher salaries expenses (seasonal) and another dry well (earlier suspended)

  • We maintain our Buy rating on PPL with a June 2021 TP of PKR166/sh

Saad Ali
Saad Ali

Head of Research

Intermarket Securities
25 October 2021