Page 189 - Pakistan Oilfields Limited - Annual Report 2021

CONSOLIDATED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED JUNE 30, 2021

2021 2020
Note Rupees ('000)

CASH FLOWS FROM OPERATING ACTIVITIES
Cash receipts from customers 37,852,257 40,931,211
Operating and exploration costs paid (8,273,424) (9,538,375)
Royalty paid (3,832,987) (4,138,877)
Taxes paid (6,238,804) (3,873,614)
Cash provided by operating activities 45 19,507,042 23,380,345

CASH FLOWS FROM INVESTING ACTIVITIES

Capital expenditure (1,760,468) (6,738,786)
Proceeds from disposal of property, plant and equipment 31,375 7,356
Redemption of investment in mutual funds - net 6,548 807,005
Income on bank deposits and investments at amortised cost 2,103,371 3,081,781
Dividend income received 46,131 141,591
Cash generated/(used) in investing activities 426,957 (2,701,053)

CASH FLOWS FROM FINANCING ACTIVITIES

Dividend paid (14,162,567) (14,169,614)
Dividend paid to non-controlling interest holders (12,238) (12,734)
Cash used in financing activities (14,174,805) (14,182,348)

EFFECT OF EXCHANGE RATE CHANGES (1,244,935) 900,086

INCREASE IN CASH AND CASH EQUIVALENTS 4,514,259 7,397,030

CASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR 43,309,677 35,912,647
CASH AND CASH EQUIVALENTS AT END OF THE YEAR 40 47,823,936 43,309,677

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

ANNUAL REPORT 2021 187