Profit after tax of POL increases to Rs3.454bn

RECORDER REPORT

KARACHI: The profit after tax of Pakistan Oilfields Limited (POL) has increased to Rs3.454 billion in the quarter ended September 30, 2011 as compared to Rs2.232 billion earned in the correspondent period in 2010.

The board of directors of the company in its meeting held on October 18, 2011 declared that the company's earning per share has increased to Rs14.61 in the period under review against Rs9.44 in the same period last year.

According to the financial results sent to Karachi Stock Exchange, the company's sales increased to Rs7.881 billion in this quarter against Rs5.896 billion in the same quarter last year. The company paid Rs552.983 million as sales tax in this quarter against Rs502.793 million paid in the same account in the same quarter last year.

The company's operating cost slightly reduced to Rs1.346 billion in this quarter against Rs1.349 billion in the same quarter last year.

The profit before taxation of POL increased to Rs4.779 billion in the first quarter of FY12 against Rs3.054 billion in the same quarter in FY10.