Earnings Report /
Pakistan

Pakistan E&Ps: Earnings growth to continue in 4Q; payouts can excite

  • Pakistan E&Ps are expected to post 12% qoq growth in net profits in 4QFY21

  • We expect cumulative net profits in FY21 to decline 5% yoy amid flattish average exchange rate and oil prices

  • We maintain our OW stance on E&Ps but stress that only greater aggression on exploration can end underperformance

Saad Ali
Saad Ali

Head of Research

Intermarket Securities
6 August 2021