Earning Preview: POL to post significant rise in bottom-line earnings

MG News | April 11, 2019 at 12:12 PM GMT+05:00

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April 11, 2019 (MLN): Pakistan Oilfield Limited (POL)’s board of directors meeting is scheduled for the second half today, where the company is expected to review and finalize its financial statement for the third quarter on fiscal year 2019 (FY19).

The following brokerage houses have shared their projections of the company’s net gains for the last quarter and the cumulative period:

Brokerage House	3QFY19	EPS (% Change over year)	9MFY19	EPS (% Change over the year)
Arif Habib Limited	Rs.3.84 billion	Rs.13.54 (+24%)	Rs.11.73 billion	Rs.41.33 (+49%)
Ismail Iqbal Securities	Rs.3.97 billion	Rs.14 (+28%)	Rs.11.86	Rs.41.8 (+51%)
Shajar Capital	Rs.3.83 billion	Rs.13.5	Rs.11.72 billion	Rs.41.29 (+49%)
Al Habib Capital Market	Rs.3.95 billion	Rs.13.9 (+27%)	Rs.11.8 billion	Rs.41.7 (+50%)

As can be seen in the table, the common expectation this time around is for POL to post over 24% year-on-year increase in quarterly profit, and around 50% rise in cumulative earning.

Higher profitability for the 9 month period can be accredited to enhanced topline due to a hike in realized oil prices, and increased secondary income supported by depreciation of Pakistani Rupee against US dollar, which was recorded at around 25% YoY.

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