Pakistan Oilfields' First-Quarter Net Profit Rises on Higher Fuel Prices

Pakistan Oilfields Ltd., the third biggest fuels explorer, said first quarter profit rose 57 percent because of higher crude prices.

Net income rose to 2.23 billion rupees ($26 million) or 9.44 rupees a share in the three months ended Sept. 30, from 1.43 billion rupees, or 6.03 rupees, a year earlier, the Rawalpindi-based company said in a filing to the stock exchange today. Revenue rose to 5.89 billion rupees from 3.4 billion rupees.

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To contact the editor responsible for this story: Naween Mangi at nmangi1@bloomberg.net

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