Page 204 - Pakistan Oilfield Limited - Annual Report 2022

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PAKISTAN OILFIELDS LIMITED
Consolidated Statement of

Profit or Loss

For the year ended June 30, 2022

2022 2021
Note Rupees ('000)

SALES 59,934,299 40,424,288
Sales tax (6,438,430) (3,308,056)
Excise duty (245,203) (272,314)

NET SALES 25 53,250,666 36,843,918

Operating costs 26 (10,358,550) (9,081,797)
Royalty (5,563,309) (3,907,673)
Amortization of development and decommissioning costs 27 (3,318,737) (2,211,754)
(19,240,596) (15,201,224)
GROSS PROFIT 34,010,070 21,642,694

Exploration costs 28 (877,038) (494,255)
33,133,032 21,148,439

Administration expenses 29 (234,304) (219,101)
Finance costs - net 30 (5,548,567) (259,658)
Other charges 31 (2,029,809) (1,545,551)
(7,812,680) (2,024,310)

25,320,352 19,124,129
Other income - net 32 11,211,117 1,516,730

36,531,469 20,640,859
Share of profit of associated companies 17 & 33 3,577,350 793,414
(Impairment) / reversal of impairment on investment in
associated company 17 (1,981,825) 1,625,412

PROFIT BEFORE TAXATION 38,126,994 23,059,685
Provision for taxation 34 (11,350,380) (7,657,435)
PROFIT FOR THE YEAR 26,776,614 15,402,250

Attributable to:
Owners of Pakistan Oilfields Limited (POL) 26,762,990 15,395,099
Non-Controlling Interest 13,624 7,151
26,776,614 15,402,250

Earnings per share attributable to owners of
POL - Basic and diluted (Rupees) 41 94.28 54.24

The annexed notes 1 to 47 form an integral part of these consolidated financial statements.

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