Pakistan Oilfields report reassuring growth in quarterly profits

Consolidated financial results for the first quarter ended September 30th 2018 ('000 Rupees)

Sep-18

Sep-17

% Change

Sales

                     11,792,857

                       8,128,841

45.07%

Sales tax

                        (993,027)

                        (715,129)

38.86%

Net Sales

                     10,799,830

                       7,413,712

45.67%

Operating costs

                     (2,992,862)

                     (2,120,311)

41.15%

Excise duty and development surcharge

                           (77,669)

                           (70,432)

10.28%

Royalty

                     (1,084,385)

                        (662,499)

63.68%

Amortization of development and decommissioning costs

                        (773,721)

                        (511,812)

51.17%

Gross Profit

                       5,871,193

                       4,048,658

45.02%

Exploration cost

                        (731,265)

                        (272,448)

168.41%

Administrative expenses

                           (62,388)

                           (42,527)

46.70%

Finance cost

                        (401,744)

                        (188,400)

113.24%

Other charges

                        (372,547)

                        (245,793)

51.57%

Other income

                           694,768

                           248,603

179.47%

Share in (loss)/profits of associated companies  - net of impairment loss

                        (156,896)

                             94,249

Profit before taxation

                       4,841,121

                       3,642,342

32.91%

Provision for taxation

                     (1,269,974)

                     (1,000,063)

26.99%

Profit after taxation

                       3,571,147

                       2,642,279

35.15%

Earnings per share - basic and diluted (Rupees)

                               12.57

                                  9.29

35.31%