Page 186 - Pakistan Oilfields Limited - Annual Report 2021

CONSOLIDATED

STATEMENT OF PROFIT OR LOSS

FOR THE YEAR ENDED JUNE 30, 2021

2021 2020
Note Rupees ('000)

SALES 40,424,288 41,255,712
Sales tax (3,308,056) (3,526,193)
Excise duty (272,314) (279,055)

NET SALES 26 36,843,918 37,450,464

Operating costs 27 (9,081,797) (8,602,402)
Royalty (3,907,673) (4,010,063)
Amortization of development and decommissioning costs 28 (2,211,754) (2,409,826)
(15,201,224) (15,022,291)

GROSS PROFIT 21,642,694 22,428,173
Exploration costs 29 (494,255) (1,405,418)
21,148,439 21,022,755

Administration expenses 30 (219,101) (216,084)
Finance costs - net 31 (259,658) (2,211,654)
Other charges 32 (1,545,551) (1,387,916)
(2,024,310) (3,815,654)

19,124,129 17,207,101
Other income - net 33 1,516,730 4,476,037
20,640,859 21,683,138
Share of profit/(loss) of associated companies 17 & 34 793,414 (939,262)
Reversal/(impairment) of impairment on investment in associated company 17 1,625,412 (1,130,160)
PROFIT BEFORE TAXATION 23,059,685 19,613,716
Provision for taxation 35 (7,657,435) (5,048,933)
PROFIT FOR THE YEAR 15,402,250 14,564,783

Attributable to:
Owners of Pakistan Oilfields Limited (POL) 15,395,099 14,541,637
Non-Controlling Interest 7,151 23,146
15,402,250 14,564,783
Earnings per share attributable to owners of
POL - Basic and diluted (Rupees) 42 54.24 51.23

The annexed notes 1 to 50 form an integral part of these financial statements.

Khalid Nafees Shuaib A. Malik Abdus Sattar
Chief Financial Officer Chief Executive Director

184 PAKISTAN OILFIELDS LIMITED