Page 26 - Condensed Interim Financial Statements - For Nine Months Ended March 31, 2022

Notes to and forming part of the Condensed Interim
Financial Statements (Unaudited)
For the nine months ended March 31, 2022

26. Operating segments
These financial statements have been prepared on the basis of single reportable segment.
Revenue from external customers for products of the Company is disclosed in note 16.
Revenue from two major customers of the Company constitutes 73% of the total revenue
during the period ended March 31, 2022 (March 31, 2021: 66%).
27. Impact of COVID - 19 on the condensed interim financial statements

The spread of Covid - 19 as a pandemic and consequently imposition of lock down by Federal
and Provincial Governments of Pakistan caused an overall economic slow down at the start
of 2020. This resulted in decrease in international prices of petroleum products, which are
now steadily recovering. As at period end, there is no other material adverse impact to the
business, financial conditions and results of operations. Management will continue to monitor
the potential impact and will take all steps possible to mitigate any effects.
28. Date of authorization
These condensed interim financial statements were authorized for circulation to the
shareholders by the Board of Directors of the Company on April 21, 2022.

Khalid Nafees Shuaib A. Malik Abdus Sattar
CFO Chief Executive Director

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