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Net sales decreased
by 6.3%toRs10,737million as compared to second
quarter due decrease in production and prices during
the period.
Sales volumes
of CrudeOil and POLGASdecreased by 2%and by 5%
respectively, whileGas increased by 2%as compared to
second quarter.
Cost of sales
decreased by 7%toRs4,470million as compared to
second quartermainly because of lower amortized cost
during the period.
Gross profit
decreased by 6%toRs6,267million as compared to
second quarter due to lower sales during the period.
Exploration costs
increased by 12%toRs362million as compared to
second quarter.
Finance costs
increased by 300%toRs1,240million as compared to
second quarter due to higher appreciation of rupees
against US$ during the period.
Other income
increased by 256.7%toRs2,523million as compared
to second quartermainlybecause of higher exchange
gain of Rs1,723million.
Profit after tax
increased by 18%toRs5,379million as compared to
second quarter due to lower cost of sales and lower
income tax as compared to last quarter.
Earnings per share (EPS)
increased by 18%toRs18.95 as compared to second
quarter.
Net sales decreased
by 47%toRs5,746million as compared to third quarter
due to decrease in production and prices as TALblock
production remained shut down due toCOVID19.
Sales volumes
of CrudeOil decreased by 25%, Gas decreased by 30%
and POLGASdecreased by 22%as compared to third
quarter.
Cost of sales
decreased by 42%toRs2,577million as compared
to third quartermainlybecause of lower operating
costs, lower royalty paid and lower amortization of
development and decommissioning costs during the
period.
Gross profit
decreased by 49.4%toRs3,169million as compared to
third quarter due to lower sales and lower prices during
the period.
Exploration costs
decreased by 28%toRs253million as compared to
quarter third lesser activities due toCOVID19 during
the period.
Finance costs
decreased by 58%toRs524million as compared
to third quarter due to lower depreciation of rupees
against US$ during the quarter.
Other income
decreased by 68%toRs861million as compared to
third quartermainly because of lower exchange gain
and interest income.
Profit after tax
decreased by 55%toRs2,429million as compared
to third quarter due to decrease in sales volumes and
prices as compared to last quarter.
Earnings per share (EPS)
decreased by 55%toRs8.55 as compared to third
quarter.
Quarter 3 Quarter 4
91
PAKISTANOILFIELDS LIMITED