Page 257 - Pakistan Oilfield Limited - Annual Report 2022

255
Annual Report 2022

2022 2021
Rupees ('000)
44. CASH FLOWS FROM OPERATING ACTIVITIES
Profit before taxation 38,126,994 23,059,685

Adjustments for:
Depreciation 1,488,849 1,475,965
Fair value adjustment on investments
classified as fair value through profit or loss (917) (29)
Amortization of other intangible assets 61,265 65,019
Amortization of development and
decommissioning costs 3,318,737 2,211,754
Finance costs 5,541,050 254,791
Exchange (gain)/loss on financial assets (7,326,728) 1,244,935
(Gain) on sale of assets (5,821) (28,230)
Share of profit of associated companies (3,577,350) (793,414)
Impairment / (reversal of impairment) on investment in
associated company 1,981,825 (1,625,412)
Income on bank deposits (3,196,672) (1,975,928)
Income on investments at amortised cost (11,476) (7,099)
Dividend on investments classified as fair value through
profit or loss (29,240) (730)
Provision for slow moving stores and spares 28,338 60,072
Provision for staff compensated absences (759) (3,469)
Provision for un-funded gratuity plan - CAPGAS (22) 2,220
Measurement (loss) on staff retirement
benefit plans (61,040) (136,054)

Cash flows before working capital changes 36,337,033 23,804,076
Effect on cash flows due to working capital changes:

Decrease in stores and spares (1,123,245) (221,184)
(Increase) / decrease in stock in trade (124,896) 106,137
(Increase) / decrease in trade debts (2,628,845) 295,014
Increase in advances, deposits,
prepayments and other receivables (609,014) (416,763)
Increase in trade and other payables 5,369,511 2,282,268
883,511 2,045,472
Cash flows generated from operations 37,220,544 25,849,548

Decrease / (increase) in long term loans and
advances 7,556 (10,423)
Increase in long term deposits 26,968 3,758
Taxes paid (9,187,784) (6,238,804)
Decommissioning cost paid (101,446) (97,037)
Net cash generated from operating activities 27,965,838 19,507,042