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NOTES TO AND FORMING
PART OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2020
251
PAKISTAN OILFIELDS LIMITED
2020
2019
Rupees (‘000)
46.
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before taxation
19,613,716
20,638,340
Adjustments for:
Depreciation
1,508,562
1,643,967
Fair value adjustment on investments
classified as fair value through profit or loss
(46)
(5,028)
Amortization of other intangible assets
65,820
65,821
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 assets
(5,931)
5,152
Share of (loss)/profit of associated companies
939,262
1,890,241
Reversal of impairment on investment in
associated company
1,130,160
1,913,703
Income on bank deposits
(3,110,684)
(2,048,793)
Income on investments at amortised cost
(9,534)
(4,453)
Dividend on investments classified as fair value through
profit or loss
(36,820)
(27,359)
Provision for slow moving stores and spares
42,486
71,871
Provision for staff compensated absences
(957)
(750)
Provision for un-funded gratuity plan - CAPGAS
132
328
Measurement (loss) on staff retirement benefit plans
18,364
34,125
Reversal of provision for decommissioning cost
in excess of actual costs incurred
(5,127)
(34,883)
Cash flows before working capital changes
23,865,353
26,984,569
Effect on cash flows due to working capital changes:
Decrease in stores and spares
(622,465)
(417,733)
(Increase)/decrease in stock in trade
(90,573)
6,231
(Increase)/decrease in trade debts
1,274,121
(665,315)
(Increase)/decrease in advances, deposits,
prepayments and other receivables
(1,113,180)
(94,786)
Increase in trade and other payables
4,092,732
3,357,622
3,540,635
2,186,019
Cash flows generated from operations
27,405,988
29,170,588