Pakistan Petroleum Limited (PPL) convened its 73rd Annual General Meeting (AGM) at a local hotel, where shareholders unanimously approved the financial statements for the fiscal year ending June 30, 2024.
The board also ratified a final cash dividend of 25% on ordinary shares, resulting in a total dividend of 60% for the year. Chairing the meeting, Shahab Rizvi, Chairman of the PPL Board of Directors, expressed gratitude to shareholders for their unwavering trust and support.
He acknowledged the challenges faced in the current business landscape but reaffirmed PPL’s resilience and adaptability. “Despite external headwinds, PPL has demonstrated remarkable strength, thanks to the dedication and hard work of our employees,” Rizvi stated.
Imran Abbasy, Managing Director and CEO, showcased the company’s achievements for the fiscal year 2023-24, including a record profit-after-tax of Rs. 114 billion and unprecedented customer collections. He highlighted successful gas and condensate discoveries at Jhim East X-1 in the Shah Bandar Block.
