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.
