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NOTES TO AND FORMING
PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2020
161
PAKISTANOILFIELDS LIMITED
2020
2019
Rupees ('000)
35.
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before taxation
21,734,396
24,854,693
Adjustments for:
Depreciation
1,498,587
1,631,392
Fair value adjustment on investments
classified as fair value through profit or loss
(46)
(5,028)
Amortization of development and decommissioning costs
2,409,826
3,311,549
Finance costs
2,206,210
3,766,965
Exchange (gain) on financial assets
(900,086)
(4,236,227)
(Gain)/ loss on sale of property, plant and equipment
(5,931)
5,151
Dividend from subsidiary and associated companies
(118,025)
(425,606)
Income on bank deposits
(3,099,834)
(2,044,173)
Dividend on investments classified as fair value
through profit or loss
(36,820)
(27,359)
Provision for staff compensated absences
(957)
(750)
Provision for slow moving stores and spares
42,486
71,871
Measurement gain/(loss) on staff retirement benefit plans
18,255
33,612
Reversal of provision for decommissioning cost
in excess of actual costs incurred
-
(34,883)
Cash flows before working capital changes
23,748,061
26,901,207
Effect on cash flows due to working capital changes:
(Increase) in stores and spares
(622,505)
(417,637)
(Increase) in stock in trade
(101,874)
(4,350)
Decrease/ (increase) in trade debts
1,274,245
(665,641)
(Increase) in advances, deposits,
prepayments and other receivables
(1,113,264)
(87,048)
Increase in trade and other payables
4,080,050
3,361,804
3,516,652
2,187,128
Cash flows generated from operations
27,264,713
29,088,335
(Increase) in long term loans and advances
(450)
(11,201)
Increase in long term deposits
16,373
7,431
Taxes paid
(3,850,337)
(7,624,810)
Actual decommissioning cost paid
(167,742)
(34,571)
Net cash generated from operating activities
23,262,557
21,425,184