Page 94 - Pakistan Oilfields Limited - Annual Report 2021

QUARTER REVIEW

Quarter 3 Quarter 4

Net sales Net sales
increased by 7.9 % to Rs 9,464 million as compared to decreased by 9.3% to Rs 8,587 million as compared to
second quarter due increase in prices during the period. third quarter due to decrease in production.
Sales volumes Sales volumes
of Crude Oil, Gas and POLGAS decreased by 3.9%, of Crude Oil decreased by 25%, Gas decreased by 30%
6.3% and 11.8% respectively as compared to second and POLGAS decreased by 22% as compared to third
quarter. quarter.

Cost of sales Cost of sales
increased by 21.2% to Rs 4,002 million as compared decreased by 20.2% to Rs 2,733 million as compared to
to second quarter mainly because of higher operating third quarter mainly because of lower operating costs
cost during the period. during the period.

Gross profit Gross profit
increased by 9% to Rs 5,462 million as compared to increased by 7.2% to Rs 5,855 million as compared
second quarter due to higher sales during the period. to third quarter due to lower cost of sales during the
period.
Exploration costs
increased by 111.8% to Rs 72 million as compared to Exploration costs
second quarter. increased by 333.3% to Rs 313 million as compared to
third quarter mainly due to cost incurred in Taung block.
Finance costs
decreased by 69.3% to income of Rs 320 million as Finance costs
compared to second quarter due to appreciation of increased by 313.4% to Rs 681 million as compared to
Rupees against US $ during the period. third quarter due to depreciation of rupees against US $
during the quarter.
Other income
decreased by 253.7% to loss of Rs 372 million as Other income
compared to second quarter mainly because of higher increased by 467.2% to Rs 1,366 million as compared
exchange loss on foreign currency bank balances. to third quarter mainly because of exchange gain on
foreign currency bank balances.
Profit after tax
decreased by 3% to Rs 2,927 million as compared to Profit after tax
second quarter due to higher cost of sales and lower increased by 30% to Rs 3,806 million as compared to
other income. third quarter due to lower cost of sales and higher other
income as compared to last quarter.
Earnings per share (EPS)
decreased by 3% to Rs 10.32 as compared to second Earnings per share (EPS)
quarter. increased by 30% to Rs 13.4 as compared to third
quarter.

92 PAKISTAN OILFIELDS LIMITED