The profit after tax of Pakistan Oilfields Limited (POL) has increased to Rs 5.201 billion in the half year period ended December 31, 2010 as compared to Rs 3.318 billion earned in the corresponding period in 2009. The company's earning per share increased to Rs 21.99 in the period under review against Rs 14.03 in the same period a year back.
The board of directors of the company in its meeting held on Friday at Damascus, Syria recommended an interim dividend for the half year at Rs 10.00 per share ie 100 percent. According to the financial results sent to Karachi Stock Exchange (KSE), the company's sales increased to Rs 12.639 billion in the half year period in 2010 against Rs 8.172 billion in the same period a year back. The company paid Rs 1,063.740 million as sales tax in this period against Rs 581.478 million paid in the same account in the same period last year.
The company's operating costs increased to Rs 2.729 billion in the half year period in 2010 against Rs 1.824 billion in the same period in 2009. The company's profit before taxation surged to Rs 7.151 billion in the second half of 2010 against Rs 4.299 billion in the same period in 2009.
On quarterly basis, the company's profit after taxation increased to Rs 2.968 billion translating earning per share of Rs 12.55 in the quarter ended December 31, 2010 as compared to after tax profit of Rs 1.892 billion with per share earning of Rs 8.00 in the same quarter in 2009.