ISLAMABAD: Pakistan Oilfields Limited (POL) has reported a significant increase in its net profit after tax (NPAT) for the fourth quarter of fiscal year 2026, reaching PkR12.4 billion, a 67% increase year-on-year and a 59% rise quarter-on-quarter. This brings the full-year NPAT to PkR31.9 billion, marking a 32% increase from the previous fiscal year. The company attributes this growth to higher oil prices and a lower effective tax rate during the period.

According to AKD Securities Limited, POL's net sales surged to PkR20.1 billion in the fourth quarter, reflecting a 64% year-on-year and 32% quarter-on-quarter increase. For the full fiscal year 2026, sales totaled PkR63.0 billion, driven by a 51% year-on-year increase in Arab light oil prices and an uptick in hydrocarbon production. The company's crude oil production averaged 4,226 barrels per day in the fourth quarter, a modest 2% rise from June 2025, while gas production saw a substantial increase to 65 million cubic feet per day, up 51% year-on-year.

Operating expenses rose to PkR4.67 billion, up 42% from the previous year and 52% from the previous quarter. This increase is attributed to heightened activity in joint venture fields and increased transportation expenses. Notably, exploration expenses saw a significant decline to PkR133 million, a 91% decrease both year-on-year and quarter-on-quarter, compared to PkR1.41 billion in the same period last year.

In addition to the financial results, POL declared a final dividend per share (DPS) of PkR72.5, bringing the cumulative DPS for fiscal year 2026 to PkR100.0, a 33% increase from PkR75.0 in fiscal year 2025.