OUR STAFF REPORTER LAHORE The Pakistan Oilfields Limited (POL) has announced its FY11 result on Tuesday, posting earnings of Rs10.8 billion (EPS Rs45.72), up 45 percent YoY. The company also announced a final cash payout of Rs25/share, taking cumulative full year payout to Rs35/share. The result largely came inline with estimates. The growth in earnings is mainly attributed to additional oil and gas production flows from Manzalai CFP, new production flows from Bela and a 24 percent YoY increase in average Arab Light prices. Resultantly, the companys top line soared by 40 percent to Rs25 billion in the period under review. Operating costs also witnessed an increase of 36 percent YoY to stand at Rs5.5 billion, however exploration cost declined by 33 percent YoY to stand at Rs1.1 billion. Moreover, a strong 31 percent YoY growth in other income was led by higher dividend income from its subsidiaries. Meanwhile, Attock Petroleum Limited (APL) has also announced its FY11 result. The company booked profits of Rs4.3 billion (EPS of Rs61.58) as against earnings of Rs3.6 billion (EPS of Rs52.00), up 18 percent YoY. The company also announced a final cash payout of Rs30 per share taking cumulative dividend to Rs41.5 for FY11. Earnings along with the cash payout came in above street estimates. The companys revenues increased by 32 percent YoY Rs109.4 billion in FY11 on account of a rise in volumetric sales and higher end product prices. As a result, gross profit jumped by 25 percent YoY to Rs4.7 billion; however gross margins slightly shrunk to 4.3 percent. Other operating income too surged by 51 percent YoY to Rs2 billion on the back of the recognition of mark-up earned on late payments from power generation companies. However, the finance cost increased by 113 percent YoY.