Pakistan Oilfields Limited announced its 3QFY26 financial results, in which the company posted an NPAT of PkR7.8bn (EPS: PkR27.5), up 18% YoY/24% QoQ. The result was above our expectations, driven by higher other income and a lower effective tax rate. On a cumulative basis, 9MFY26 NPAT stands at PkR19.5bn (EPS: PkR68.8), up 16%YoY from PkR16.7bn (EPS: PkR59.0) in 9MFY25:

·        Net revenues clocked in at PkR15.3bn (+5%YoY/+5%QoQ), with the improvement led by 3%YoY/23%QoQ recovery in Arab Light price to US$80.3/bbl during the period.

·        Company’s oil production for 3QFY26 stood at 4,155bpd (down 9%YoY), while gas production clocked in at 60mmcfd (up 13%YoY from 53mmcf in SPLY). Recovery in gas production was mainly due to the commencement of fields in the Tal block, namely Makori Deep and Razgir, during the period.

·        Opex rose by 9%YoY to PkR3.5bn, while exploration charges remained unchanged at PkR1.4bn during the quarter. Other income declined modestly by 5%YoY to PkR2.7bn, due to a drop in investment yields during the period, where the company’s cash and equivalent balances stood at PkR102bn (down 1%YoY) as of 3QFY26.

Full Report
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Courtesy – AKD Research