Basic HTML Version
ANNUAL REPORT 2017
158
2017
2016
Note
Rupees (‘000)
SALES
30,599,832
28,204,272
Sales tax
(2,700,009)
(2,647,798)
NET SALES
26
27,899,823
25,556,474
Operating costs
27
(8,910,759)
(9,464,588)
Excise duty
(271,619)
(264,855)
Royalty
(2,344,306)
(2,020,909)
Amortization of development and decommissioning costs
28
(2,209,306)
(2,447,702)
(13,735,990) (14,198,054)
GROSS PROFIT
14,163,833
11,358,420
Exploration costs
29
(1,468,325)
(2,052,117)
12,695,508
9,306,303
Administration expenses
30
(137,968)
(168,777)
Finance costs
31
(747,079)
(1,022,752)
Other charges
32
(814,062)
(567,009)
(1,699,109)
(1,758,538)
10,996,399
7,547,765
Other income
33
833,571
977,963
11,829,970
8,525,728
Share in profits of associated companies
17 & 34
2,387,070
2,192,888
Reversal of impairment on investment in associated company
17
1,254,835
1,071,269
PROFIT BEFORE TAXATION
15,471,875
11,789,885
Provision for taxation
35
(3,566,803)
(1,668,358)
PROFIT FOR THE YEAR
11,905,072
10,121,527
Attributable to:
Owners of Pakistan Oilfields Limited (POL)
11,882,059
10,088,246
Non - Controlling Interest
23,013
33,281
11,905,072
10,121,527
Earnings per share attributable to owners of
POL - Basic and diluted (Rupees)
42
50.23
42.65
The annexed notes 1 to 49 form an integral part of these financial statements.
Consolidated Profit And Loss Account
For the year ended June 30, 2017
Shuaib A. Malik
Chief Executive
Abdus Sattar
Director
Khalid Nafees
Chief Financial Officer