POL profits increase 86pc

Pakistan Oilfields Limited (POL) has registered 86 percent increase in its quarter net profits, amid a rise in the profit from associated companies.

According to the notification issued to the Pakistan Stock Exchange, the company announced a net profit for the quarter ended September 30 at Rs2.29 billion, up against Rs1.23 billion net profit during the same period of the last year.

The company announced earnings per share (EPS) of Rs9.64 against Rs5.18 in the corresponding period of the last year.

POL said its sales declined to Rs6.46 billion during the year as against Rs6.51 billion in the last year. Other income also remained on the lower side as it was recorded at Rs163.86 million as compared to Rs500.61 million last year.

However, share in profits of associated companies added Rs510 million.