Karachi: Pakistan Oilfields Limited (POL) has announced a robust financial performance for the third quarter of the fiscal year 2026, with net profit after tax (NPAT) reaching PkR7.8 billion, marking an 18% year-on-year increase. The company attributes this growth to higher oil prices and reduced tax rates, resulting in a cumulative NPAT of PkR19.5 billion for the first nine months of FY26.
According to AKD Securities Limited, the company’s net revenues rose to PkR15.3 billion, driven by a substantial recovery in Arab Light crude oil prices to US$80.3 per barrel. Despite a 9% decline in oil production to 4,155 barrels per day, gas production saw a significant increase of 13% year-on-year, reaching 60 million cubic feet per day. This uptick in gas production is credited to the commencement of operations in the Tal block fields, Makori Deep and Razgir.
Operational expenditures grew by 9% to PkR3.5 billion, while exploration charges remained steady at PkR1.4 billion. Other income experienced a slight decline, falling by 5% to PkR2.7 billion, due to decreased investment yields. The company’s cash and equivalent balances stood at PkR102 billion, reflecting a 1% year-on-year decrease.
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