Pakistan Petroleum Limited (PPL) cash flow statement

Operating activities generated Rs 115.2 bn of cash in FY2026 (Jul 2025 – Jun 2026), up 188.3% on FY2025. Capital expenditure was Rs 37.3 bn, leaving free cash flow of Rs 77.9 bn. Dividends paid to shareholders came to Rs 23.1 bn. Overall, cash increased by Rs 23.4 bn.

PPL cash flow statement (annual) (Rs bn)
Rs bn	FY2026 Jul 2025 – Jun 2026	FY2025 Jul 2024 – Jun 2025	FY2024 Jul 2023 – Jun 2024	FY2023 * Jul 2022 – Jun 2023	FY2022 Jul 2021 – Jun 2022	FY2021 Jul 2020 – Jun 2021	FY2020 Jul 2019 – Jun 2020	FY2019 * Jul 2018 – Jun 2019	FY2018 * Jul 2017 – Jun 2018	FY2017 Jul 2016 – Jun 2017	FY2016 Jul 2015 – Jun 2016	FY2015 Jul 2014 – Jun 2015	FY2014 Jul 2013 – Jun 2014	FY2013 Jul 2012 – Jun 2013	FY2012 Jul 2011 – Jun 2012	FY2011 Jul 2010 – Jun 2011	FY2010 Jul 2009 – Jun 2010	FY2009 * Jul 2008 – Jun 2009	FY2008 Jul 2007 – Jun 2008	FY2007 Jul 2006 – Jun 2007
Operating activities
Profit (cash-flow starting line, as reported)	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	24.4
Depreciation & amortisation	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.5
Net cash from operating activities	115.2	40.0	99.0	22.3	47.8	57.2	34.2	45.0	42.8	47.7	56.9	43.2	39.6	70.7	36.7	33.6	28.8	15.3	23.5	15.9
Investing activities
Capital expenditure	(37.3)	(33.0)	(26.8)	(18.1)	(23.0)	(14.2)	(33.1)	(45.0)	(36.8)	(34.9)	(43.0)	(28.4)	(23.5)	(21.6)	(9.2)	(8.7)	(7.9)	(14.8)	(7.1)	(4.0)
Net cash from investing activities	(68.3)	(49.7)	(40.5)	(3.7)	(75.0)	(0.8)	(37.8)	(54.3)	(43.9)	(16.5)	(46.5)	(17.6)	(26.5)	(53.4)	(13.0)	(20.9)	(9.0)	(11.8)	(10.4)	(5.4)
Financing activities
Dividends paid	(23.1)	(20.4)	(14.5)	(3.9)	(9.0)	(6.6)	(4.5)	(3.0)	(19.7)	(12.7)	(12.3)	(23.6)	(18.9)	(16.8)	(9.0)	(16.9)	(6.5)	(8.3)	(16.2)	(6.9)
Borrowings raised / (repaid)	(0.3)	0.4	0.1	(0.3)	(0.1)	(0.0)	(0.0)	(0.1)	(0.1)	(0.1)	(0.1)	(0.1)	(0.1)	(0.1)	(0.1)	(1.2)	(0.1)	(0.1)	(0.1)	(0.1)
Net cash from financing activities	(23.4)	(20.0)	(14.4)	(4.2)	(9.1)	(6.6)	(4.6)	(3.1)	(19.9)	(12.8)	(12.4)	(23.7)	(19.0)	(16.9)	(9.0)	(18.1)	(6.6)	(8.4)	(16.2)	(6.9)
Net change in cash	23.4	(29.7)	43.9	16.0	(35.6)	49.6	(8.3)	(10.0)	(19.8)	18.4	(1.7)	2.1	(6.4)	0.5	14.6	(5.3)	13.3	(3.8)	(2.7)	3.6
Key figures
Free cash flow (operating cash flow − capex)	77.9	6.9	72.1	4.1	24.9	43.0	1.1	(0.1)	6.0	12.9	13.9	14.8	16.1	49.1	27.5	24.8	20.9	0.5	16.4	11.9

PPL cash flow statement — year-on-year change (Rs mn)
Rs mn	FY2026 Jul 2025 – Jun 2026	FY2025 Jul 2024 – Jun 2025	FY2024 Jul 2023 – Jun 2024	FY2023 * Jul 2022 – Jun 2023	FY2022 Jul 2021 – Jun 2022	FY2021 Jul 2020 – Jun 2021	FY2020 Jul 2019 – Jun 2020	FY2019 * Jul 2018 – Jun 2019	FY2018 * Jul 2017 – Jun 2018	FY2017 Jul 2016 – Jun 2017	FY2016 Jul 2015 – Jun 2016	FY2015 Jul 2014 – Jun 2015	FY2014 Jul 2013 – Jun 2014	FY2013 Jul 2012 – Jun 2013	FY2012 Jul 2011 – Jun 2012	FY2011 Jul 2010 – Jun 2011	FY2010 Jul 2009 – Jun 2010	FY2009 * Jul 2008 – Jun 2009	FY2008 Jul 2007 – Jun 2008	FY2007 Jul 2006 – Jun 2007
Operating activities
Profit (cash-flow starting line, as reported)	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Depreciation & amortisation	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net cash from operating activities	+188.3%	-59.6%	+344.1%	-53.4%	-16.4%	+67.5%	-24.1%	+5.2%	-10.4%	-16.1%	+31.7%	+9.2%	-44.0%	+92.8%	+9.3%	+16.5%	+87.7%	-34.6%	+47.8%	—
Investing activities
Capital expenditure	+12.9%	+23.1%	+48.0%	-21.0%	+61.8%	-57.1%	-26.6%	+22.4%	+5.4%	-18.9%	+51.5%	+20.8%	+8.6%	+136.1%	+4.9%	+11.1%	-46.9%	+109.2%	+75.7%	—
Net cash from investing activities	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Financing activities
Dividends paid	+13.3%	+40.6%	+273.3%	-57.1%	+37.4%	+45.0%	+51.9%	-84.9%	+55.5%	+3.2%	-47.9%	+25.0%	+12.7%	+87.0%	-47.1%	+161.5%	-22.0%	-48.6%	+135.5%	—
Borrowings raised / (repaid)	-176.7%	+153.8%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net cash from financing activities	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net change in cash	—	-167.6%	+173.9%	—	-171.7%	—	—	—	-207.3%	—	-179.9%	—	-1,504.2%	-96.9%	—	-140.0%	—	—	-176.0%	—
Key figures
Free cash flow (operating cash flow − capex)	+1,026.9%	-90.4%	+1,639.6%	-83.3%	-42.2%	+3,806.4%	—	-100.9%	-53.4%	-7.6%	-6.1%	-7.8%	-67.2%	+78.4%	+10.8%	+18.6%	+3,762.6%	-96.7%	+38.4%	—

Change against the previous fiscal year; shown when the earlier figure is positive.

Figures in Pakistani rupees as reported by the company; costs and cash outflows in brackets; "—" = not reported. * Figures in this period do not fully reconcile in the source data (hover the * for details). Updated 15 Oct 2026.

All reported line items 60

PPL cash flow statement — all reported line items (Rs bn)
Rs bn	FY2026 Jul 2025 – Jun 2026	FY2025 Jul 2024 – Jun 2025	FY2024 Jul 2023 – Jun 2024	FY2023 Jul 2022 – Jun 2023	FY2022 Jul 2021 – Jun 2022	FY2021 Jul 2020 – Jun 2021	FY2020 Jul 2019 – Jun 2020	FY2019 Jul 2018 – Jun 2019	FY2018 Jul 2017 – Jun 2018	FY2017 Jul 2016 – Jun 2017	FY2016 Jul 2015 – Jun 2016	FY2015 Jul 2014 – Jun 2015	FY2014 Jul 2013 – Jun 2014	FY2013 Jul 2012 – Jun 2013	FY2012 Jul 2011 – Jun 2012	FY2011 Jul 2010 – Jun 2011	FY2010 Jul 2009 – Jun 2010	FY2009 Jul 2008 – Jun 2009	FY2008 Jul 2007 – Jun 2008	FY2007 Jul 2006 – Jun 2007
Profit/(Loss) - Starting Line - Cash Flow	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	24.4
Non-cash Items & Reconciliation Adjustments - Cash Flow	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	(0.6)
Other Non-Cash Items & Reconciliation Adjustments - Cash Flow - to Reconcile	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	(2.1)
Depreciation, Depletion & Amortization including Impairment - Cash Flow - to Reconcile	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.5
Depreciation & Depletion - Property, Plant & Equipment - Cash Flow - to Reconcile	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.4
Amortization - Intangible Assets & Deferred Charges - Cash Flow - to Reconcile	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.2
Income Taxes - Paid/(Reimbursed) - Cash Flow	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	18.6	11.1	14.3	8.9	10.2
Interest Paid - Cash	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.1	0.1	0.0	0.0	0.0
Interest & Dividends - Received - Total - Cash Flow	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	3.5	2.5	3.0	2.3	2.2
Cash Flow from Operating Activities before Changes in Working Capital	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	33.6	28.8	15.3	23.5	15.8
Working Capital - Increase/(Decrease) - Cash Flow	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.0
Accounts Receivables - Decrease/(Increase) - Cash Flow	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	2.1
Inventories - Decrease/(Increase) - Cash Flow	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.2
Other Assets - Decrease/(Increase) - Cash Flow	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.1
Accounts Payable - Increase/(Decrease) - Cash Flow	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	(2.3)
Net Cash Flow from Operating Activities	115.2	40.0	99.0	22.3	47.8	57.2	34.2	45.0	42.8	47.7	56.9	43.2	39.6	70.7	36.7	33.6	28.8	15.3	23.5	15.9
Capital Expenditures - Net - Cash Flow	36.9	32.2	26.6	18.1	22.9	14.2	33.0	45.0	36.8	34.9	43.0	28.3	23.5	21.6	9.1	8.7	7.7	14.8	7.0	4.0
Property, Plant & Equipment - Purchased/(Sold) - Net - Cash Flow	36.9	32.2	26.6	18.1	22.9	14.2	33.0	45.0	36.8	34.9	43.0	28.3	23.5	21.6	9.1	8.7	7.7	14.8	7.0	4.0
Property, Plant & Equipment - Purchased - Cash Flow	37.3	33.0	26.8	18.1	23.0	14.2	33.1	45.0	36.8	34.9	43.0	28.4	23.5	21.6	9.2	8.7	7.9	14.8	7.1	4.0
Property, Plant & Equipment Sold - Cash Flow	0.4	0.8	0.2	0.0	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.1	0.0	0.0	0.1	0.0	0.1	0.0	0.0	0.0
Capital Expenditures - Total	37.3	33.0	26.8	18.1	23.0	14.2	33.1	45.0	36.8	34.9	43.0	28.4	23.5	21.6	9.2	8.7	7.9	14.8	7.1	4.0
Acquisition & Disposals of Business - Assets - Sold/(Acquired) - Net - Cash Flow	—	—	—	—	—	—	—	—	—	—	—	—	0.0	(13.0)	0.0	—	—	—	—	—
Acquisition of Business - Cash Flow	—	—	—	—	—	—	—	—	—	—	—	—	0.0	13.0	0.0	—	—	—	—	—
Investments excluding Loans - Decrease/(Increase) - Cash Flow	(31.4)	(17.5)	(8.9)	16.9	(17.7)	13.3	(4.5)	(9.2)	(7.3)	18.3	(3.5)	10.6	(3.0)	(18.5)	(3.9)	(12.1)	(1.2)	3.0	(3.4)	(1.4)
Investment Securities - Unclassified - Sold/(Purchased) - Net - Total - Cash Flow	(31.4)	(17.5)	(8.9)	16.9	(17.7)	13.3	(4.5)	(9.2)	(7.3)	18.3	(3.5)	10.6	(3.0)	(18.5)	(3.9)	(12.1)	(1.2)	3.0	(3.4)	(1.4)
Investment Securities - Sold/Matured - Unclassified - Cash Flow	86.0	90.0	—	—	—	—	1.8	0.1	0.6	29.4	22.4	38.5	5.4	5.4	1.0	—	—	3.4	—	—
Investment Securities - Purchased - Unclassified - Cash Flow	117.4	107.6	—	—	—	—	6.3	9.2	7.8	11.2	25.9	27.9	8.4	23.9	4.9	12.1	1.2	0.4	3.4	1.4
Investments - Associated Companies & Joint Ventures - Sold/(Purchased) - Cash Flow	—	—	(5.0)	(2.3)	0.0	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Investing Cash Flow - Decrease/(Increase)	—	—	0.0	(0.1)	(34.4)	0.0	(0.2)	(0.1)	0.1	0.1	0.0	0.1	(0.1)	(0.3)	(0.1)	(0.0)	0.0	0.0	0.0	0.0
Net Cash Flow from Investing Activities	(68.3)	(49.7)	(40.5)	(3.7)	(75.0)	(0.8)	(37.8)	(54.3)	(43.9)	(16.5)	(46.5)	(17.6)	(26.5)	(53.4)	(13.0)	(20.9)	(9.0)	(11.8)	(10.4)	(5.4)
Dividends Paid - Cash - Total - Cash Flow	23.1	20.4	14.5	3.9	9.0	6.6	4.5	3.0	19.7	12.7	12.3	23.6	18.9	16.8	9.0	16.9	6.5	8.3	16.2	6.9
Debt - Long-Term & Short-Term - Issuance/(Retirement) - Total - Cash Flow	(0.3)	0.4	0.1	(0.3)	(0.1)	(0.0)	(0.0)	(0.1)	(0.1)	(0.1)	(0.1)	(0.1)	(0.1)	(0.1)	(0.1)	(1.2)	(0.1)	(0.1)	(0.1)	(0.1)
Debt - Issued/Reduced - Long-Term - Cash Flow	(0.3)	0.4	0.1	(0.3)	(0.1)	(0.0)	(0.0)	(0.1)	(0.1)	(0.1)	(0.1)	(0.1)	(0.1)	(0.1)	(0.1)	(1.2)	(0.1)	(0.1)	(0.1)	(0.1)
Lease liabilities - Issued/(Reduced) - Cash Flow	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	(1.2)	—	—	—	—
Debt - Issued - Long-Term - Cash Flow	0.2	0.6	1.3	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Debt - Reduced - Long-Term - Cash Flow	0.4	0.2	1.1	0.3	0.1	0.0	0.0	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	1.2	—	—	—	—
Lease liabilities - Reduced - Cash flow represents cash outflow due to the repayment of lease liability/debt of the company. It includes finance leases, capitalized lease, and hire-purchase agreement. Applicable to all industries. If Lease liability issue	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.2	—	—	—	—
Net Cash Flow from Financing Activities	(23.4)	(20.0)	(14.4)	(4.2)	(9.1)	(6.6)	(4.6)	(3.1)	(19.9)	(12.8)	(12.4)	(23.7)	(19.0)	(16.9)	(9.0)	(18.1)	(6.6)	(8.4)	(16.2)	(6.9)
Foreign Exchange Effects - Cash Flow	(0.1)	0.1	(0.1)	1.6	0.7	(0.2)	(0.1)	2.4	1.2	0.0	0.3	0.2	(0.4)	0.0	0.0	—	—	—	—	—
Net Change in Cash - Total	23.4	(29.7)	43.9	16.0	(35.6)	49.6	(8.3)	(10.0)	(19.8)	18.4	(1.7)	2.1	(6.4)	0.5	14.6	(5.3)	13.3	(3.8)	(2.7)	3.6
Net Cash from Continuing Operations	23.4	(29.7)	43.9	16.0	(35.6)	49.6	(8.3)	(10.0)	(19.8)	18.4	(1.7)	2.1	(6.4)	0.5	14.6	(5.4)	13.2	(4.8)	(3.1)	3.6
Net Cash - Beginning Balance	67.5	97.2	53.3	37.2	72.8	23.2	20.7	30.6	50.4	32.0	33.6	31.6	37.4	36.9	22.4	27.7	14.4	18.2	20.9	17.3
Net Cash - Ending Balance	91.0	67.5	97.2	53.3	37.2	72.8	12.4	20.7	30.6	50.4	32.0	33.6	31.0	37.4	36.9	22.4	27.7	14.4	18.2	20.9
Cash Receipts - Sales of Goods & Services - Cash Flow	286.3	268.1	278.6	183.9	155.3	161.6	120.0	122.5	114.2	112.5	107.3	124.1	134.9	133.9	100.4	—	—	—	—	—
Cash Payments - Suppliers of Goods & Services - Cash Flow	56.0	48.6	46.3	48.2	28.5	37.2	30.0	22.6	18.8	29.7	16.1	30.5	29.7	22.6	22.3	—	—	—	—	—
Interest Paid - Cash (Cash Flow - Direct)	0.2	0.2	0.1	0.2	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.1	0.0	0.0	0.0	—	—	—	—	—
Cash Receipts - Business Activities - Cash Flow	286.3	268.1	278.6	183.9	155.3	161.6	120.0	122.5	114.2	112.5	107.3	124.1	134.9	133.9	100.4	—	—	—	—	—
Cash Payments - Business Activities - Cash Flow	144.8	194.2	150.0	137.9	89.7	90.9	78.6	75.2	63.3	69.5	53.7	71.4	84.6	50.0	55.9	—	—	—	—	—
Cash Payments - Other - Cash Flow	88.8	145.6	103.7	89.7	61.2	53.7	48.6	52.5	44.5	39.8	37.6	40.9	54.9	27.3	33.6	—	—	—	—	—
Income Taxes - Paid/(Reimbursed) - Cash Flow	37.0	54.0	47.7	41.2	29.8	17.5	12.7	15.1	14.3	1.0	1.8	15.7	16.6	17.7	13.4	—	—	—	—	—
Interest & Dividends - Received - Total - Cash Flow - Direct	8.8	17.7	17.2	10.4	6.1	3.8	3.9	3.0	2.9	5.4	4.4	5.8	5.5	4.2	5.3	—	—	—	—	—
Cash Receipts/(Payments) - Net - Cash Flow	2.0	2.7	1.1	7.2	6.1	0.2	1.6	9.8	3.3	0.3	0.8	0.4	0.3	0.3	0.3	—	—	—	—	—
Income Taxes - Paid/(Reimbursed) - Cash Flow - Supplemental	37.0	54.0	47.7	41.2	29.8	17.5	12.7	15.1	14.3	1.0	1.8	15.7	16.6	17.7	13.4	18.6	11.1	14.3	8.9	10.2
Interest Paid - Cash Flow - Supplemental	0.2	0.2	0.1	0.2	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.1	0.0	0.0	0.0	0.1	0.1	0.0	0.0	0.0
Interest & Dividends - Received - Cash Flow - Supplemental	8.8	17.7	17.2	10.4	6.1	3.8	3.9	3.0	2.9	5.4	4.4	5.8	5.5	4.2	5.3	3.5	2.5	3.0	2.3	2.2
CF from Optg Activities before Change in WC & Int Payments	115.4	40.2	99.1	22.5	47.9	57.2	34.2	45.0	42.8	47.8	57.0	43.3	39.6	70.7	36.7	33.6	28.9	15.4	23.5	15.9
Depreciation, Depletion & Amortization - Cash Flow	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.5
Free Cash Flow to Equity	78.1	8.1	72.5	3.8	24.9	43.0	1.1	(0.1)	5.9	12.8	13.8	14.8	16.0	49.0	27.5	23.6	20.9	0.5	16.4	11.8
Free Cash Flow Net of Dividends	54.8	(13.5)	57.6	0.3	15.8	36.4	(3.4)	(3.0)	(13.8)	0.2	1.6	(8.8)	(2.8)	32.3	18.5	7.9	14.5	(7.8)	0.2	5.0
Free Cash Flow	77.9	6.9	72.1	4.1	24.9	43.0	1.1	(0.1)	6.0	12.9	13.9	14.8	16.1	49.1	27.5	24.8	20.9	0.5	16.4	11.9

Every line the company reported, in the original order and wording, without regrouping or signs changed.