Decline in POL profit |
RECORDER REPORT |
Wednesday, 22 Apr, 2009 4:28 am |
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KARACHI : The profit after tax of Pakistan Oilfields Limited (POL) has declined to Rs 821.818 million in the quarter ended March 31, 2009 as compared to Rs 1,703.017 million earned in the corresponding period in 2008. The board of directors of the company meeting held on Tuesday, declared that the company's earning per share has decreased to Rs 3.47 in the period under review against Rs 7.20 in the same period a year back.
According to the financial results, the company's sales declined to Rs 2.915 billion in this period against Rs 4.495 billion in the same period last year. The company paid Rs 241.791 million as sales tax against Rs 266.844 million.
The company's gross profit after operating cost, excise duty and development surcharge, royalty and amortisation of development and decommissioning costs stood at Rs 1.305 billion against Rs 2.712 billion last year. The company's profit before taxation declined to Rs 1.172 billion in the three months period in 2009 against Rs 2.289 billion in the same period in 2008.
Copyright Business Recorder, 2009
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