Pakistan Oilfields Limited’s (POL) profit increased 13.5 percent to Rs13.281 billion for the year ended June 30, 2019, translating into EPS of Rs46.77. The company earned Rs11.703 billion with EPS of Rs41.15 in the preceding financial year. The company announced final cash dividend at Rs30 / share. This was in addition to interim dividend already paid at Rs20 / share.
Primary drivers in company’s bottom-line included higher international oil prices, up 11 percent along with 22 percent rupee devaluation. Net revenues during the period increased 37 percent to Rs44.5 billion owing to significant 34, 46, and 36 percent jump in revenue from oil and gas, liquefied petroleum gas, respectively.
On the other hand National Refinery Limited (NRL) reported Rs8.692 billion in loss for the year ended June 30, 2019 as opposed to the profit of Rs1.770 billion in the previous financial year. The loss per share was recorded at Rs108.70 in FY2019 as against EPS of Rs22.14 in FY2018. The company didn’t announce any final cash dividend for the year.
NRL’s revenue from contracts and customers increased to Rs160.906 billion in FY2019 from Rs136.984 billion in FY2018. Cost of sales rose to Rs165.355 billion from Rs133.172 billion. Other income fell to Rs369.511 million from Rs558.088 million.
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