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Pakistan Oilfields’ Net Profit Rises on Higher Fuel Prices

Oct. 29 (Bloomberg) -- 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.

Link to Company News:{POL PA <Equity> CN <GO>}

To contact the reporter on this story: Farhan Sharif in Karachi at fsharif2@bloomberg.net

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

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