POL distinction soars 29% in Jul-Dec 2016
LAHORE: Pakistan Oilfields Limited (POL) has announced that a combined net distinction surged 29% to Rs4.76 billion in initial half of a stream financial year on a behind of a poignant decrease in scrutiny cost and uptick in sales.
The association had requisitioned Rs3.68-billion distinction in a same 6 months of a prior year.
Earnings per share (EPS) came in during Rs20.07 in Jul-Dec 2016 compared to Rs15.50 in a analogous duration of prior year, pronounced a association presentation sent to a Pakistan Stock Exchange (PSX) on Friday. The residence of directors endorsed an halt money division of Rs15 per share. It will be paid to shareholders whose names will seem in a register of members on Feb 12, 2017.
Elixir Securities pronounced in a note to clients that a gain came in line with marketplace expectations.
The batch cost of POL – a state-owned oil and gas scrutiny association – fell 2.89%, or Rs15.27, and sealed during Rs512.79 with a volume of 936,300 shares during a PSX.
Exploration cost of a association forsaken over 6 times to Rs190.33 million in a initial half of 2016-17 as opposite to Rs1.19 billion in a analogous duration of final year.
Sales modernized around 4% to Rs14.43 billion in Jul-Dec 2016 opposite Rs13.91 billion in Jul-Dec 2015.
The share in increase of compared companies (net of spoil loss) stood during Rs623.15 million, that was roughly double a Rs316.08 million in a analogous duration of prior year. Finance cost halved to Rs390.03 million from Rs643.90 million final year.
On a flip side, other income also halved to Rs397.86 million in a initial 6 months of FY17 from Rs756.17 million in a same 6 months of prior year.
In a entertain finished Dec 31, 2016, a association available a net combined distinction of Rs2.47 billion (EPS Rs10.42), that was roughly prosaic when compared with a Rs2.45 billion (EPS Rs10.32) warranted in a analogous entertain of prior year.
Topline Securities investigate residence pronounced oil sales in a Oct-Dec 2016 entertain rose 8% in a arise of 19% sales expansion from Adhi field, that was 12% of POL’s sum oil volume, and outlay further from a much-awaited Mardan Khel field, that accounted for 14% of a company’s sum oil volume.
Published in The Express Tribune, Jan 28th, 2017.
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Article source: http://tribune.com.pk/story/1309084/pol-profit-soars-29-jul-dec-2016/