External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>Pakistan Oilfields Ltd (POL) announced its 2QFY26 results today, where the company recorded a profit of Rs6.3bn (EPS: 22.16), down 17% YoY but up 16% QoQ.</li><li>Earnings are higher than our expectations, driven by higher-than-expected other income and a lower Effective Tax Rate (ETR), which stood at 26% in 2QFY26, compared to 37% in 2QFY25 and 33% in 1QFY26.</li><li>The company reported net sales of Rs14.5bn, down 2% YoY but up 11% QoQ. The QoQ improvement is due to an increase in oil and gas volumes during the quarter.</li></ul>

Pakistan Oilfields Ltd (POL) announced its 2QFY26 results today, where the company recorded a profit of Rs6.3bn (EPS: 22.16), down 17% YoY but up 16% QoQ.Earnings are higher than our expectations, driven by higher-than-expected other income and a lower Effective Tax Rate (ETR), which stood at 26% in 2QFY26, compared to 37% in 2QFY25 and 33% in 1QFY26.The company reported net sales of Rs14.5bn, down 2% YoY but up 11% QoQ. The QoQ improvement is due to an increase in oil and gas volumes during the quarter.

Pakistan Oilfields (POL): POL Earnings Declined 17% YoY in 2QFY26 to Rs22.16/Share – Higher Than Expectations