PAKISTAN OILFIELDS LIMITED
Ref: POL/FIN-CORP/PSX/24-25/039
The General Manager
Pakistan Stock Exchange Limited, Stock Exchange Road,
Karachi.
Dear Sir,
April 28, 2025
STANDALONE & CONSOLIDATED FINANCIAL RESULTS FOR THE NINE MONTHS PERIOD ENDED MARCH 31, 2025.
We have to inform you that the Board of Directors of our company in their meeting held on April 28, 2025 at 2:30 pm at POL House, Morgah, Rawalpindi have recommended the following:
CASH DIVIDEND
An Interim Cash Dividend at Rs. Nil per share i.e. Nil %.
BONUS SHARES
The Board has recommended to issue Interim bonus shares in proportion of Nil shares for every Nil shares held i.e. Nil %.
RIGHT SHARES
The Board has recommended to issue Nil % Right Shares.
ANY OTHER ENTITLEMENT / CORPORATE ACTION
"N.A"
ANY OTHER PRICE-SENSITIVE INFORMATION
"N.A"
The financial results of the Company are attached (Annex I - Separate Financial Statements) and Annex II - Consolidated Financial Statements).
The financial statements of the Company for the nine months ended March 31, 2025 will be transmitted through PUCARS separately, within the speGified time.
Yours Sincerely,
For Pakistan Oilfields Limited
cc:
Director Enforcement & Monitoring Department Securities & Exchange Commission of Pakistan 7* Floor, NIC Building, Jinnah Avenue,
Blue Area, Islamabad. Fax # 051-9100454
Director / HOD
Surveillance, Supervision and Enf. Deptt Securities & Exchange Commission of Pakistan NIC Building, Jinnah Avenue, Blue Area, Islamabad.
P.O.L. HOUSE, MORGAH, RAWALPINDI 46600 PAKISTAN
Telephone Nos: +92-51-5487589-97(9 Lines) Telefax Nos. +92-5l-5487598-99(2 Lines) Web site: https://www.pakoil.coin.pk E-tnail: polcms@pakoil.com.pk
Page 1 of 9
PAKISTAN OILFIELDS LIMITED
Condensed Interim Statement of Financial Position As at March 31, 2025
(Unaudited) (Audited)
SHARE CAPITAL AND RESERVES | Rupees ( '000) | FIXED ASSETS | Rupees ( '000) | ||||
Authorised capital | 5,000,000 5,000,000 | Property, plant and equipment | 7,433,158 | 5,833,669 | |||
Issued, subscribed and paid-up capital | 2,838,551 2,838,551 | Development and decommissioning costs | 9,736,429 | 9,135,914 | |||
Revenue reserves | 4 | 69,800,502 80,015,423 | Exploration and evaluation assets | 80,806 | 8,613,099 | ||
72,639,053 82,851,974 | 17,250,393 | 23,582,682 | |||||
NON GURRENT LIABILITIES | LONG TERM INVESTMENTS IN SUBSIDIARY | ||||||
Long term deposits | 1,039,259 1,028,884 | AND ASSOCIATED COMPANIES | 9,615,603 | 9,615,603 | |||
Deferred tax liability | 6,770,704 9,505,111 | ||||||
Provisions | 5 | 28,698,065 26,656,704 | LONG TERM LOANS AND ADVANCES | 25,997 | 39,522 | ||
36,508,028 37,190,699 | |||||||
CURRENT LIABILITIES AND PROVISIONS | CURRENT ASSETS | ||||||
Trade and other payables | 46,129,775 | Stores and spares | 7,833,503 | 7,278,324 | |||
Unclaimed dividend | 309,120 | Stock in trade | 562,262 | 576,418 | |||
Provision for income tax | 11,097,630 9,407,068 | Trade debts | 12 | 21,168,620 | 19,601,317 | ||
60,003,462 55,845,963 Advances, deposits, prepayments and other 13 10,135,428 8,500,515 receivables Other financial assets 14 31,735,674 37,832,533 Cash and bank balances 15 70,823,063 68,861,722 | |||||||
Note Mar. 31, 2025 June 30, 2024
(Unaudited) (Audited) N€/te Mar. 31, 2025 June 30, 2024
CONTINGENCIES AND COMMITMENTS
7
169,150,543
175,888,636
142,258,550
169,150,543
142,650,829
175,888,636
The annexed notes 1 to 28 form an integral part of these condensed interim financial statements.
CFO Chief Executive
Director
PAKISTAN OILFIELDS LIMITED
Condensed Interim Statement of Profit or Loss (Unaudited)
For the nine months ended March 31, 2025
Note
Three months ended Nine months ended Mar. 31, 2025 Mar. 31, 2024 Mar. 31, 2025 Mar. 31, 2024
Rupees ('000) Rupees ('000)
SALESSales tax
Excise duty
NET SALES
15,868,391 17,757,370 48,939,586 54,653,228
(1,273,533) (1,414,299) (3,961,723) (4,154,204)
(43,580) (55,337) (143,628) (165,030)
16 14,551,278 16,287,734 44,834,235 50,333,994
Operating costs Royalty
Amortisation of development and decommissioning costs
17 (3,235,941)
(1,569,721)
18 9,320
(2,589,897)
(1,819,589)
(162,582)
(9,601,586)
(4,880,873)
(763,896)
(8,815,953)
(5,722,419)
(384,198)
GROSS PROFIT
Exploration costs
(1,771,210) | (1,679,247) | (4,927,137) | (5,284,283) | ||
6,571,493 | 9,723,477 | 14,887,421 | 28,680,710 | ||
me - net 22 2,846,423 3,979,587 11,218,894 11,752,563 | |||||
EFORE INCOME TAX AND 9,417,916 13,703,064 26,106,315 40,433,273 | |||||
Administration expenses Finance costs - net Other charges
Other inco PROFIT B
FINAL TAXES
(4796 342 (4 572 068) (1 2 6 355 (14922,570)_
9,754,936 11,715,666 29,587,880 35,411,424
19 (1,412,233 ) (312,942) (9,773,322) (1,446,431)
8,342,703 11,402,724 19,814,558 33,964,993
(120,741) (93,487) (352,754) (284,913)
20 (1,085,535) (664,552) (2,944,409) (2,261,678)
21 (564,934) (921,208) (1,629,974) (2,737,692)
Final Taxes - Levies 23 | (207,690) (58,872) (976,372) (74,582) | ||||
PROFIT BEFORE INCOME TAX | 9,210,226 | 13,644,192 | 25,129,943 | 40,358,691 | |
Provision for taxation | 24 | (2,598,455) | (1,283,648) | (8,376,629) | (10,419,203) |
Earnings per share
- Basic and diluted (Rs)
23.29 43.55 59.02
105.47
The annexed notes 1 to 28 form an integral part of these condensed interim finap ial statements.
CFO Chief Executive Director
|Unaudited)
Balance at June 30, 2023
Total comprehensive income for the period: Profit for the period
Final dividend @ Rs 60 per share - | |||||||
Year ended June 30, 2023 | (17,031,306) | (17,031,306) | |||||
Interim dividend @ Rs 25 per share - | |||||||
Year ending June 30, 2024 | - | (7,096,378) | (7,096,378) | ||||
Total transactions with owners | - | (24,127,684) | (24,127,684) | ||||
Balance at March 31, 2024 | 2,838,551 | 200,000 | 1,557,794 | 68,902,668 | 73,499,013 | ||
Total comprehensive income for the period: | |||||||
Profit for the period | 9,212,023 | 9,212,023 | |||||
Other comprehensive income | 140,938 | 140,938 |
Other comprehensive income Transactions with owners:
Revenue reserves
Share Insurance Investment Unappropriated Total Capital Reserve Reserve profit
Rupees ('000)
2,838,551 200,000 1,557,794 63,090,864 67,687,209
29,939,488
29,939,488
- - 29,939,488 29,939,488
- - 9,352,961 | 9,352,961 | ||||||||
Balance at June 30, 2024 | 2,838,551 | 200,000 | 1,557,794 | 78,255,629 | 82,851,974 | ||||
Total comprehensive income for the period: | |||||||||
Profit for the period | 16,753,314 | 16,753,314 | |||||||
Other comprehensive income | |||||||||
- | 16,753,314 | 16,753,314 | |||||||
Transactions with owners: | |||||||||
Final dividend @ Rs 70 per share - | |||||||||
Year ended June 30, 2024 | (19,869,857) | (19,869,857) | |||||||
Interim dividend @ Rs 25 per share - | |||||||||
Year ending June 30, 2025 | (7,096,378) | (7,096,378) | |||||||
Total transactions with owners | - | (26,966,235) | (26,966,235) | ||||||
The annexed notes 1 to 28 form an integral part of these condensed interim financial statements.
CFO Chief Executive
PAKISTAN OILFIELDS LIMITEDCondensed Interim Statement of Cashflows (Unaudited) For the nine months ended March 31, 2025
Nine months ended Mar. 31, 2025 Mar. 31, 2024
Rupees ('000)
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Cash receipts from customers | 45,454,351 | 43,676,617 | |
Operating and exploration costs paid | (12,505,849) | (7,480,130) | |
Royalty paid | (5,071,115) | (5,852,441) | |
Taxes and levies paid | (10,396,846) | (10,103,020) | |
Cash provided by operating activities | 17,480,541 | 20,241,026 | |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Capital expenditure | (3,935,732) | (9,132,947) | |
Proceeds from disposal of property, plant and equipment | 53,370 | 756 | |
Income on bank deposits and investments at amortised cost | 4,341,584 | 11,134,685 | |
Dividend income received | 4,200,946 | 744,882 | |
Cash used in investing activities | 4,660,168 | 2,747,376 | |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Dividend paid | (26,690,487) | (22,103,496) | |
EFFECT OF EXCHANGE RATE CHANGES | 414,260 | (1,811,814) | |
INCREASE IN CASH AND CASH EQUIVALENTS | (4,135,518) | (926,908) | |
CASH AND CASH EQUIVALENTS AT JULY 01, | 106,694,255 | 106,263,075 | |
CASH AND CASH EQUIVALENTS AT MAR. 31 | 102 558 737 | 105 336 167 | |
CASH AND CASH EQUIVALENTS | |||
Short term investment | - | 16,967,359 | |
Other financial assets | 31,735,674 | 26,235,030 | |
Cash and bank balances
70,823,063 62,133,778
102,558,737 105,336,167
The annexed notes 1 to 28 form an integral part of these condensed interim financial statements.
Chief Executive
CFO Director
PAKISTAN OILFIELDS LIMITED
Condensed Interim Consolidated Statement of Financial Position As at March 31, 2025
SHARE CAPITAL AND RESERVES
ATTRiBuTABLE TO OWNERS OF PAKISTAN
OILFIELDS LIMITED
(Unaudited) (Audited)
Note Mar. 31, 2025 June 30, 2024
Rupees ( '000)
FIXED ASSETS
Property, plant and equipment
(Unaudited) (Audited)
Note Mar. 31, 2025 June 30, 2024
Rupees ( '000)
7,510,330 | 5,887,193 | |
9,736,429 | 9,135,914 | |
80,806 | 8,613,099 | |
68,842 | 103,631 | |
1,962 | 1,962 | |
17,398,369 | 23,741,799 | |
10
Authorised capital
Issued, subscribed and paid-up capital Capital reserves
Revenue reserves
Gain on remeasurement of investment at fair value
5,000,000 2,838,551
5 2,080,992
6 71,810,095
3,706
5,000,000 2,838,551
2,080,985
81,814,076
3,706
Development and decommissioning costs 11
Exploration and evaluation assets 12
Other intangible assels Deferred tax assets
through Other Comprehensive Income (OCI)
76,733,344 | 86,737,318 | LONG TERM INVESTMENT IN ASSOCIATED COMPANIES | 13 | 14,566,890 | 14,275,227 | |||||
NON - CONTROLLING INTEREST | 103,411 | 112,830 | ||||||||
76,836,755 | 86,850,148 | LONG TERM LOANS AND ADVANCES | 25,997 | 39,522 | ||||||
NON CURRENT LIABILITIES | ||||||||||
Long term deposits | 1,159,284 | 1,144,334 | CURRENT ASSETS | |||||||
Deferred tax liabilities | 7,735,333 | 10,396,826 | Stores and spares | 7,837,690 | 7,281,531 | |||||
Provisions | 7 | 28,721,394 | 26,678,100 | Stock in trade | 589,607 | 596,178 | ||||
37,616,011 | 38,219,260 | Trade debts | 14 | 21,169,682 | 19,601,334 | |||||
Advances, deposits, prepayments and other receivables | 15 | 10,169,588 | B,511,185 | |||||||
CURRENT LIABILITIES AND PROVISIONS | Other financial assets | 16 | 31,735,674 | 37,832,533 | ||||||
Trade and other payables | 8 | 48,357,460 | 46,193,503 | Short term investments | 142,140 | 151,493 | ||||
Unclaimed dividend | 584,868 | 309,120 | Cash and bank balances | 17 | 70,871,412 | 68,959,261 | ||||
Provision for income tax | 11,111,955 | 9,418,032 | " 142,515,793 | 142,933,515 | ||||||
60,054,283 | 55,920,655 | |||||||||
CONTINGENCIES AND COMMITMENTS | 9 | |||||||||
174,507,049 | 180,990,063 | d | 174,507,049 | 180,990,063 | ||||||
The annexed notes 1 to 30 form an integral part of these condensed interim financial statements.
CFO
Chief Executive
Director
PAKISTAN OILFIELDS LIMITED
Condensed Interim Consolidated Profit or Loss Account (Unaudited)
For the Nine months ended March 31, 2025
Three months ended Nine months ended
Note Mar. 31, 2025 Mar. 31, 2024 Mar. 31, 2025 Mar. 31, 2024
SALES | 16,251,933 | 16,272,209 | 50,235,611 | 56,035,254 | |
Sales tax | (1,332,340) | (1,493,387) | (4,160,614) | (4,365,306) | |
Excise duty | (43,580) | (55,337) | (143,628) | (165,030) | |
NET SALES | 18 | 14,876,013 | 16,723,485 | 45,931,369 | 51,504,918 |
Operating costs | 19 | (3,550,280) | (2,990,686) | (10,634,475) | (9,894,184) |
Royalty | (1,569,721) | (1,819,589) | (4,880,873) | (5,722,419) | |
Amortisation of development & decommissioning costs | 20 | 9,320 | (162,582) | (763,896) | (384,198) |
Rupees ( '000) Rupees ( '000)
(5,110,681) | (4,972,857) | (16,279,244) | (16,000,801) | ||||||||
GROSS PROFIT | 9,765,332 | 11,750,626 | 29,652,125 | 35,504,117 | |||||||
Exploration costs | 21 | (1,412,233) | (312,942) | (9,773,322) | (1,446,431) | ||||||
8,353,099 | 11,437,686 | 19,878,803 | 34,057,686 | ||||||||
Administration expenses | (133,752) | (104,036) | (388,947) | (315,862) | |||||||
Finance costs - net | 22 | (1,086,295) | (666,376) | (2,946,833) | (2,267,150) | ||||||
Other charges | 23 | (566,181) | (923,835) | (1,634,502) | (2,745,088) | ||||||
(1,786,228) | (1,694,247) | (4,970,282) | (5,328,100) | ||||||||
6,566,871 | 9,743,439 | 14,908,521 | 28,729,586 | ||||||||
Other income - net | 24 | 2,748,408 | 3,898,639 | 10,967,743 | 11,551,579 | ||||||
9,315,279 | 13,642,078 | 25,876,264 | 40,281,165 | ||||||||
Share in profits of associated companies - | |||||||||||
net of impairment loss | 184,402 | 212,786 | 553,066 | 766,530 | |||||||
PROFIT BEFORE INCOME TAX AND | 9,499,681 | 13,854,864 | 26,429,330 | 41,047,695 | |||||||
FINAL TAXES | |||||||||||
Final taxes - levies | 25 | (207,690) | (58,872) | (976,372) | (74,582) | ||||||
PROFIT BEFORE INCOME TAX | 9,291,991 | 13,795,992 | 25,452,958 | 40,973,113 | |||||||
Provision for taxation | 26 | (2,622,150) | (1,325,298) | (8,468,424) | (10,581,288) | ||||||
PROFIT FOR THE PERIOD | 6,669,841 | 12,470,694 | 16,984,534 | 30,391,825 | |||||||
Attributable to: | |||||||||||
Owners of Pakistan Oilfields Limited (POL) | 6,663,986 | 12,458,363 | 16,961,737 | 30,358,620 | |||||||
Non - controlling interests | 5,855 | 12,331 | 22,797 | 33,205 | |||||||
6,669,841 | 12,470,694 | 16,984,534 | 30,391,825 | ||||||||
Earnings per share attributable to owners of | |||||||||||
POL - Basic and diluted (Rupees) | 23.48 | 43.89 | 59.75 | 106.95 | |||||||
The annexed notes 1 to 30 form an integral part of these condensed interim financial st ements.
Chief Executive
Chief Financial Officer Director
PAKISTAN OILFIELDS LIMITED
Condensed Interim Consolidated Statement of Changes in Equity (Unaudited)
For the Nine months ended March 2025
Bonus
Attributable to owners of Pakistan Oilfields Limited
Capital Reserves Revenue Reserves
Insurance | General | Unappropriated | investment |
reserve | Reserve | profit | at fair value through OCI |
Gain on revaluation
Non-
ggaye shares
ttpg issued by Special
subsidiary/ reserves associated
companies
Utilized Special reserves
Rupees ( '000)
of Total
controlling interest
Total
Balance at June 30, 2023
Total comprehensive income for the period: Profit for the peñod
2,838,551 88,857
39,499 1,941,044 200,000 7,077,325 60,832,677
3 62
3,639 73,021,592 122,926 73,144,518
(17,031,306) | (17,031,306) | (17,031,306) | ||||||||
(7,096,378) | (7,096,378) | (7,096,378) | ||||||||
(7,774) | (7,774) | |||||||||
(11,709] | (11,709) | |||||||||
(8,765) | (8,765j |
Other comprehensive income
4 4
30 358 6 0 | 3 205 | 30 | 8 5 |
474 | 474 | ||
- | 30,359,094 | 33,205 | 30,392,299 |
- - 30,359,094
Transfer to special reserve by an associated company POL dividends:
Final dividend @ Rs 60 per share - Year ended June 30, 2023
Interim cash dividend @ Rs 25 per share - Year ending June 30, 2024 Dividend to CAPGAS non-controlling interest holders:
Final cash dividend @ Rs 23.5 per share - Year ended June 30, 2023 Interim dividend @ Rs 35.4 per share - Year ending June 30, 2024
Second interim dividend @ Rs 26.5 per share - Year ending June 30, 2024
11,585
(11,585)
Total transactions with owners | (24,127,684) | (24,127,684) | (28,248) | (24,155,932) | |||||||||
Balance at March 31, 2024 | 2,838,551 | 88,857 | 51,084 | 1,941,044 | 200,000 | 7,077,325 | 67,052,502 | 3,639 | 79,253,002 | 127,883 | 79,380,885 | ||
Total comprehensive income for the period: | |||||||||||||
Profit for the period | 7 241 43 | 7 241 431 | 17 75 | 7 25 706 | |||||||||
Other comprehensive income | 242 8 8 | 67 | 24 8 | | | (8|0) | 24 80 | |||||||
Dividend to CAPGAS non-controlling interest holders: | - | - | 7,484,249 | 67 | 7,484,316 | 17,195 | 7,501,511 | ||||||
Third interim dividend @ Rs 97.5 per share - Year ending June 30, 2024 | (32,248) | (32,248) | |||||||||||
Balance at June 30, 2024 2,838,551 | 88,857 | 51,084 | 1,941,044 | 200,000 | 7,077,325 | 74,536,751 | 3,706 | 86,737,318 | 112,830 | 86,850,148 | |||
Total comprehensive income for the period: | |||||||||||||
Profit for the period 16,961,737 | - | 16,961,7 24 | 22,797 | 16,984, | |||||||||
Other comprehensive income - | - | 524 ; | 5 | ||||||||||||
- 16,962,261 | - | 16,962,261 | 22,797 | 16,985,058 | |||||||||
Transfer to special reserve by an associated company 7 (7) | |||||||||||||
(19,869,857) | (19,869,857) | (19,869,857) | ||||||||
(7,096,378) | (7,096,378) | (7,096,378) | ||||||||
(15,678) | (15,678) | |||||||||
(6,615) | (6,615 | |||||||||
(9,923) | (9,923 |
POL dividend:
Final dividend @ Rs 70 per share - Year ended June 30, 2024
Interim cash dividend @ Rs 25 per share - Year ending June 30, 2025 Dividend to CAPGAS non-controlling interest holders:
Final cash dividend @ Rs 47.4 per share - Year ended June 30, 2024 Interim dividend @ Rs 20 per share - Year ending June 30, 2025
Second interim dividend @ Rs 30 per share - Year ending June 30, 2025
Total transactions with owners - - - - (26,966,235) | - | (26,966,235) | (32,216) | (26,998,451) |
Balance at March 31, 2025 2,838,551 88,857 51.091 1.911,044 200,000 7 077,325 64,532,770 | 3,706 | 76,733,344 | 103,411 | 76,836,755 |
Chief Executive Director
PAKISTAN OILFIELDS LIMITEDCondensed Interim Consolidated Statement of Cash Flows (Unaudited)
For the Nine months ended March 31, 2025
Nine months ended
Mar. 31, 2025 Mar. 31, 2024
Rupees ('000)
CASH FLOWS FROM OPERATING ACTIVITIES
Cash receipts from customers | 46,576,274 | 44,868,056 | |
Operating and exploration costs paid | (13,608,720) | (8,600,346) | |
Royalty paid | (5,071,115) | (5,852,441) | |
Taxes paid | (10,412,663) | (10,119,697) | |
Cash provided by operating activities | 17,483,776 | 20,295,572 | |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Capital Expenditure | (3,966,010) | (9,143,210) | |
Proceeds from disposal of property, plant and equipment | 53,370 | 756 | |
Income on bank deposits and investments at amortised cost | 4,375,829 | 11,170,354 | |
Dividend income received | 4,167,416 | 715,483 | |
Cash generated from investing activities | 4,630,605 | 2,743,383 | |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Dividend paid | (26,690,487) | (22,103,496) | |
Dividend paid to non - controlling interest holders | (32,215) | (28,246) | |
Cash used in financing activities | (26,722,702) | (22,131,742) | |
EFFECT EXCHANGE RATE CHANGES | 414,260 | (1,811,814) | |
(DECREASE) / INCREASE IN CASH AND CASH EQUIVALENTS | (4,194,061) | (904,601) | |
CASH AND CASH EQUIVALENTS AT JULY 01, | 106,943,287 | 106,533,341 | |
CASH AND CASH EQUIVALENTS AT MAR. 31, 102,749,226 105,628t740 | |||
CASH AND CASH EQUIVALENTS | |||
Short term investment | 142,140 | 17,180,030 | |
Other Financial assets | 31,735,674 | 26,235,030 | |
Cash and bank balances | 70,871,412 | 62,213,680 | |
102,749,226 | 105,628,740 | ||
The annexed notes 1 to 30 form an integral part of these condensed interim financial statements.
Chief Executive
CFO Director