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122
PAKISTANOILFIELDS LIMITED
STATEMENT OF PROFIT OR LOSS
FOR THE YEAR ENDED JUNE 30, 2020
2020
2019
Note
Rupees ('000)
SALES
41,840,700
47,505,549
Sales tax
(3,365,841)
(3,528,242)
Excise duty
(279,055)
(309,251)
NET SALES
25
38,195,804
43,668,056
Operating costs
26
(9,407,609)
(10,392,914)
Royalty
(4,010,063)
(4,553,641)
Amortization of development and decommissioning costs
27
(2,409,826)
(3,311,549)
(15,827,498)
(18,258,104)
GROSS PROFIT
22,368,306
25,409,952
Exploration costs
28
(1,405,418)
(2,048,986)
20,962,888
23,360,966
Administration expenses
29
(192,321)
(181,253)
Finance costs
30
(2,211,617)
(3,773,626)
Other charges
31
(1,382,967)
(1,727,994)
(3,786,905)
(5,682,873)
17,175,983
17,678,093
Other income
32
4,558,413
7,176,600
PROFIT BEFORE TAXATION
21,734,396
24,854,693
Provision for taxation
33
(5,358,546)
(7,982,986)
PROFIT FOR THE YEAR
16,375,850
16,871,707
Earnings per share - Basic and diluted (Rupees)
40
57.69
59.44
The annexed notes 1 to 47 form an integral part of these financial statements.
Shuaib A. Malik
Chief Executive
Abdus Sattar
Director
Khalid Nafees
Chief Financial Officer