Monday, August 15, 2022

POL: Profitability to surge by 49% YoY in 9MFY19


Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

Financial result of Pakistan Oilfields Limited (POL) for the period 9MFY19 is scheduled to be announced on 11th Apr’19, analysts expect the company to post a Profit After Tax (PAT) of PKR 11,733mn (EPS: PKR 41.33) compared to PKR 7,868mn (EPS: PKR 27.72) in 9MFY18, up by 49% YoY.

The growth in profitability comes on the back of 16% YoY hike in realized oil prices followed by a minute increase in gas production by 1% YoY.

On sequential basis, we expect the earnings to clock-in at PKR 3,844mn (EPS: PKR 13.54) vis-à-vis PKR 3,107mn (EPS: PKR 10.94) in SPLY, up by 24% YoY.

This surge in bottom-line during 3QFY19 comes on the back of 28% YoY upswing in net sales tagged with 20% YoY Pak Rupee depreciation against greenback.

However, oil and gas production, each declined by 5% YoY tagged with a drop in realized oil prices by 4% YoY. Exploration costs are expected to remain on the lower side, down by 64% YoY amid no dry wells being reported during the quarter.

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