Pakistan Oilfields Limited (POL) is scheduled to announce its 1QFY12 result on Wednesday, October 18, 2011.The company is expected to earn a profit after tax (PAT) of Rs2,979 million (EPS: Rs12.59) during the period, depicting a staggering rise of 33 per cent YoY primarily driven by 31 per cent YoY growth in net revenues to Rs7,040 million. Increase in net sales would be driven by 45 per cent YoY surge in oil prices coupled with 4 per cent growth in oil production to 4,563 bopd. However, gas volumes are likely to stay flat YoY at 89mmcfd level. Downside risk to earnings forecast is if the company books cost of dry well of Chak Naurang -1. This time the company will not book dividend income of NRL and APL because the ex-dividend date was in October 2011. Hence it will be booked in 2QFY12.
The Board of Attock Petroleum Limited (APL) is scheduled to approve the financial results for 1QFY12 on October 17, 2011. It is expected that the company is to post profit after tax (PAT) of Rs1,034 million (EPS: Rs 14.95) in 1QFY11, an 18 per cent YoY rise, when compared with the profitability of Rs875 million (EPS: Rs12.66) in the corresponding quarter last year. This exuberant growth is mainly on account of strong volumetric growth in the retail fuel segment and FO business. The Company managed to bag a whopping YoY growth of 170 per cent, 87 per cent and 18 per cent in HSD, MS and FO volumes, respectively. This volumetric growth coupled with margin improvement in both regulated and deregulated segment is likely to mitigate the effect of declining Asphalt volumes. Income on bank deposits is likely to suffer a decline of 25 per cent YoY as cash and investments have dropped by 38 per cent YoY to Rs6.2 billion in FY11.
