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PIOC announced its 4QFY22 results today wherein the company posted a LPS of PKR 2.55 compared to an EPS of PKR 3.00 in 4QFY21. This takes FY22 EPS to PKR 4.62 vs PKR 8.69 in FY21, down 47% YoY. The result was lower than our expectation mainly due to higher than anticipated tax charges.
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