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POL: Strong earnings, mixed production
Pakistan Oilfields Limited (PSX: POL) started FY27 on a strong note, reporting a 51 percent year-on-year increase in profitability during 1QFY27. The improvement was supported by higher oil prices, stronger gas production, lower exploration expenses and increased other income. However, the performance was not without its weaknesses, as oil production declined and operating costs continued to rise. POL reported a net profit of Rs8.19 billion in 1QFY27, compared with Rs5.43 billion in the same period last year. Net sales increased by nearly 26 percent year-on-year to Rs16.5 billion in 1QFY27. Th...
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