The profit after tax of Pakistan Oilfields Limited (POL) has increased to Rs 2.232 billion in the quarter ended September 30, 2010 as compared to Rs 1.425 billion in the corresponding period in 2009. The board of directors of the company in its meeting held on Thursday declared that the company's earning per share has increased to Rs 9.44 in the period under review against Rs 6.03 in the same period a year back.
According to the financial results sent to Karachi Stock Exchange (KSE), the company's sales increased to Rs 5.896 billion in this quarter against Rs 3.402 billion in the same quarter last year. The company paid Rs 502.793 million as sales tax in this period against Rs 226.577 million paid in the same account in the same period last year.
The company's operating cost increased to Rs 1,349.727 million against Rs 753.894 million, excise duty and development surcharge increased to Rs 89.792 million against Rs 34.226 million, royalty increased to Rs 491.300 million against Rs 277.787 million while decommissioning costs increased to Rs 254.599 million against Rs 226.720 million.
The company's exploration costs increased to Rs 104.633 million against Rs 52.954 million. The company's profit before taxation increased to Rs 3.054 billion in this quarter against Rs 1.866 billion in the same period last year.