Pakistan Oilfields' annual profits reduce by 1.7%

Financial Results for the Year Ended June 30th 2018 ('000 Rupees)

Jun-18

Jun-17

% Change

Sales

                     35,919,194

                     30,599,832

17.38%

Sales tax

                     (2,462,244)

                     (2,700,009)

-8.81%

Net Sales

                     33,456,950

                     27,899,823

19.92%

Operating costs

                     (9,189,425)

                     (8,910,759)

3.13%

Excise duty

                        (307,703)

                        (271,619)

13.28%

Royalty

                     (3,778,297)

                     (2,344,306)

61.17%

Amortization of development and decommissioning costs

                     (2,986,824)

                     (2,209,306)

35.19%

Gross Profit

                     17,194,701

                     14,163,833

21.40%

Exploration cost

                     (2,990,153)

                     (1,468,325)

103.64%

Administrative expenses

                        (191,279)

                        (137,968)

38.64%

Finance cost

                     (1,919,041)

                        (747,079)

156.87%

Other charges

                        (972,105)

                        (814,062)

19.41%

Other income

                       2,595,957

                           833,571

211.43%

Share in profits of associated companies

                           843,354

                       2,387,070

-64.67%

Reversal of impairment on investment in associated company

                           178,421

                       1,254,835

-85.78%

Profit before taxation

                     14,739,855

                     15,471,875

-4.73%

Provision for taxation

                     (3,036,198)

                     (3,566,803)

-14.88%

Profit after taxation

                     11,703,657

                     11,905,072

-1.69%

Earnings per share - basic and diluted (Rupees)

                               47.37

                               50.23

-5.69%