Karachi: Pakistan Oilfields Ltd (POL) announced its second-quarter financial results for fiscal year 2026, revealing a net profit after tax (NPAT) of PkR6.3 billion, equivalent to earnings per share (EPS) of PkR22.2. This marks a 17% decrease from the previous year, attributed primarily to increased exploration expenses. Despite the decline in profits, the company declared its highest-ever half-yearly cash payout, amounting to PkR27.5 per share, a 10% increase year-over-year.

According to AKD Securities Limited, the company's net sales for the quarter reached PkR14.6 billion, reflecting a 2% decrease compared to the same period last year, but an 11% increase from the previous quarter. The annual sales decline was driven by lower average oil prices and reduced oil production. However, the quarterly improvement was due to a recovery in hydrocarbon production.

The company's oil and gas output reported figures of 4,500 barrels per day and 58 million cubic feet per day respectively, as per data from the Pakistan Petroleum Information Service. Notably, natural gas production saw a 5% year-over-year increase, while crude oil output decreased by 3%. Additionally, the average price of Arab Light crude contracted by 13% from the previous year, averaging US$65 per barrel during the reported period.