Page 253 - Pakistan Oilfield Limited - Annual Report 2022

251
Annual Report 2022

39. CASH AND CASH EQUIVALENTS
Note 2022 2021
Rupees ('000)

Cash and bank balances 24 67,910,320 47,723,976
Short term investments - market treasuty bills
at amortised cost 23 - 99,960
67,910,320 47,823,936

40. INTEREST IN SUBSIDIARY
40.1 CAPGAS is only subsidiary of POL as at June 30, 2022. CAPGAS has share capital consisting solely
of ordinary shares that are held directly by POL, and the proportion of ownership interest held
equals the voting right held by POL. POL holds 51% (2021: 51%) interest in CAPGAS. There are no
significant restrictions on Company's ability to use assets, or settle liabilities of CAPGAS.
40.2 Non-controlling interest
Following is the summarised financial information of CAPGAS that has 49% (2021: 49%) ownership
interest held by non-controlling interests. The amounts disclosed are before inter-company
eliminations:
2022 2021
Rupees (‘000)
Summarised financial position

Current assets 276,938 309,764
Non-current assets 254,508 96,023
Current liabilities 89,559 33,549
Non-current liabilities 207,248 123,209
Net assets 234,639 249,029
Accumulated NCI 114,974 122,024

Summarised statement of comprehensive income

Net revenue 1,356,987 802,061
Profit for the year 27,804 14,594
Other comprehensive (loss) (572) (944)
Total comprehensive income for the year 27,232 13,650
Profit attributable to NCI 13,624 7,151

Total comprehensive income attributable to NCI 13,344 6,689

Dividend paid to NCI 20,394 12,238
Summarised statement of cash flows

Cash flow from operating activities 61,307 19,765
Cash flow from investing activities (83,771) (4,389)
Cash flow from financing activities (41,622) (24,976)
Net (decrease) in cash and cash equivalent (64,086) (9,600)