Pakistan Oilfields Limited (POL) today announced financial results for the nine months period ending 31 March, 2018 reporting Sales worth Rs. 23.651 billion. Furthermore, the company’s gross profit during the outgoing nine months rose by 3.5 percent to reach 10.495 billion.
At POL, Net Sales during the reported period went up by 7.69 percent reaching 21.986 bllion, with operating costs increasing by more than 14.5 percent reaching 229.379 million.
On the expenses account, POL registered a marked reduction in company’s Administrative Expenses down 98.53 percent with a 132 percent jump in exploration costs for the period.
Amongst other major accounts, other income rose by 83 percent, coupled with a 108 percent jump in financing costs. Meanwhile, the company reported bottom line reports profit worth Rs. 7.867 billion against 7.465 billion in 2017. The company EPS came in at Rs. 33.26 vs. an EPS of Rs 31.56 during the nine months ending March, 2016.
Unconsolidated Profit and Loss Account – For the Nine Months Ended, March 30th 2017 | |||
|---|---|---|---|
Key Financials | March, 2018 | March, 2017 | % Change |
Amounts in PKR ‘000 | |||
Sales | 23,651,999 | 22,370,790 | 5.73% |
Sales Tax | 1,665,147 | 1,954,864 | -14.82% |
Net Sales | 21,986,852 | 20,415,926 | 7.69% |
Operating Costs | 6,519,338 | 6,362,346 | 2.47% |
Excise Duty & Development surcharge | 229,379 | 200,346 | 14.49% |
Royalty | 2,450,342 | 1,742,408 | 40.63% |
Amortization of Development & Decommissioning costs | 2,291,856 | 1,968,808 | 16.41% |
Gross Profit | 10,495,937 | 10,142,018 | 3.49% |
Exploration Costs | 1,015,467 | 436,683 | 132.54% |
Administration Expenses | 142,441 | 9,705,335 | -98.53% |
Finance Costs | 1,218,899 | 584,829 | 108.42% |
Other Charges | 635,858 | 624,993 | 1.74% |
Other Income | 2,305,858 | 1,259,797 | 83.03% |
Profit before Taxation | 9,789,130 | 9,652,741 | 1.41% |
Taxation | 1,921,230 | 2,187,123 | -12.16% |
Profit for the Period | 7,867,900 | 7,465,618 | 5.39% |
EPS – Basic and diluted | 33.26 | 31.56 | 5.39% |
Company release on Earnings Report can be accessed here.
