KARACHI: Pakistan Oilfields Limited (POL) recorded an after-tax profit of Rs4.2bn for the first quarter of this fiscal year, translating into earnings per share (eps) at Rs17.62.
It represented a growth of 15pc over Rs3.6bn profit (eps Rs15.25) in the year-ago period.
Investment analyst Muhammad Affan Ismail at BMA Capital Management Ltd said the results were above consensus forecast on account of lower-than-estimated amortisation charges (down 30pc year-on-year) primarily due to high base effect. “To recall, POL reported a hefty amortisation write-off pertaining to reserve downgrade at Manzalai field last year,” he said.
