1QFY19 EPS Expected to Grow by 33% QoQ to PKR 16.42
Pakistan Oilfields Limited (POL) is scheduled to announce its 1QFY19 result on October 12, 2018, where it is expected to post earnings growth of 33% QoQ to stand at PKR 4,660m (EPS: PKR 16.42). Minimal seismic activity and absence of any irrecoverable charge (booked in 4QFY18 on Joyamair Deep-1) are likely to reduce the exploration cost by 75% QoQ. This is expected to be the primary driver of sequential growth expected in the quarter. In 1QFY19, the company is likely to write off the cost associated with a dry well in Tal Block, Mamikhel Deep 1, which will have a negative earnings impact of PKR 1.11/share. On a YoY basis, steep currency devaluation and reversal in international crude prices are expected to take the earnings growth to 84% in 1QFY19.
Co. and its subsidiaries are principally engaged in the exploration, drilling, production and sale of crude oil and gas and other products.
Ismail Iqbal Securities (Private) Limited (IISPL) is a TREC holder of the Pakistan Stock Exchange, as well as an SECP registered Underwriter and Book Runner. IISPL provides comprehensive financial services including Equity Sales, Research on Equities and the Macro-Economy, Investment Advisory, Portfolio Management, Corporate Finance, and extensive services for Private Equity investors. IISPL services a diversified client base, from Institutional to Retail Investors including High Net worth Individuals.
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