During the first quarter of fiscal year 2027, Mari Energies Limited, traded on the PSX as MARI, announced a 39 percent year-over-year profit growth reaching Rs. 21.8 billion, which came as a result of increased gas extraction alongside better oil and gas rates.

Earnings per share hit Rs. 18.13, moving up from Rs. 13.03 during the comparable timeframe of the prior year.

The enterprise holds a dividend yield of 4.3 percent for FY27 and 6.2 percent for FY28, with the 1QFY27 earnings per share landing at Rs. 18.13. Higher net sales, which grew by 24 percent, mainly fueled the profit expansion.

Revenue and Production

Net sales for 1QFY27 climbed 24 percent year-over-year, reaching Rs. 56.2 billion, backed by elevated gas output and improved oil and gas valuations.

On the operational side, gas output stayed strong, powered by a 35-fold year-over-year output expansion at the Shawal field alongside a 1 percent year-over-year rise at Mari HRL. Furthermore, the Shams field added 21 million cubic feet per day of extra output.

An SNGPL pipeline rupture caused a 37 percent year-over-year drop in Shewa field output and a 3 percent year-over-year reduction in Grou-B output, partially offsetting these production improvements.

Exploration Costs and Taxation

Exploration expenses dropped 7 percent year-over-year to Rs. 2 billion in 1QFY27, likely pointing to reduced prospecting spending centered on Ghazij, Shawal, and Spinwam, given that the quarter recorded no dry wells.

MARI maintained a lower effective tax rate of 23 percent during 1QFY27, compared to the 32 percent recorded in 1QFY26.

Debt and Cash Position

Trade debt currently totals Rs. 89.3 billion, showing an increase from the Rs. 85.9 billion registered in 1QFY26 and the Rs. 86 billion noted in 4QFY26.

The cash reserves of MARI dropped to Rs. 45 billion in 1QFY27, down from Rs. 59 billion in 4QFY26.

Net sales grew 24 percent year-over-year reaching Rs. 56.2 billion, while gross profit went up 23 percent to hit Rs. 31.5 billion. Profit before tax rose 22 percent to touch Rs. 28.1 billion, and