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192
PAKISTAN OILFIELDS LIMITED
CONSOLIDATED
STATEMENT OF PROFIT OR LOSS
FOR THE YEAR ENDED JUNE 30, 2020
2020
2019
Note
Rupees ('000)
SALES
42,911,975
48,519,254
Sales tax
(3,526,193)
(3,680,305)
Excise duty
(279,055)
(309,251)
NET SALES
27
39,106,727
44,529,698
Operating costs
28
(10,258,665)
(11,230,564)
Royalty
(4,010,063)
(4,553,641)
Amortization of development and decommissioning costs
29
(2,409,826)
(3,311,549)
(16,678,554)
(19,095,754)
GROSS PROFIT
22,428,173
25,433,944
Exploration costs
30
(1,405,418)
(2,048,986)
21,022,755
23,384,958
Administration expenses
31
(216,084)
(202,744)
Finance costs
32
(2,211,654)
(3,773,657)
Other charges
33
(1,387,916)
(1,729,078)
(3,815,654)
(5,705,479)
17,207,101
17,679,479
Other income
34
4,476,037
6,762,805
21,683,138
24,442,284
Share of (loss)/profit of associated companies
18 & 35
(939,262)
(1,890,241)
(Impairment)/reversal of impairment on investment in associated
company
18
(1,130,160)
(1,913,703)
PROFIT BEFORE TAXATION
19,613,716
20,638,340
Provision for taxation
36
(5,048,933)
(7,356,828)
PROFIT FOR THE YEAR
14,564,783
13,281,512
Attributable to:
Owners of Pakistan Oilfields Limited (POL)
14,541,637
13,276,783
Non-Controlling Interest
23,146
4,729
14,564,783
13,281,512
Earnings per share attributable to owners of
POL - Basic and diluted (Rupees)
43
51.23
46.77
The annexed notes 1 to 51 form an integral part of these financial statements.
Shuaib A. Malik
Chief Executive
Abdus Sattar
Director
Khalid Nafees
Chief Financial Officer