PSO declares 50 percent decline in net profit for first half

KARACHI: Pakistan State Oil (PSO) has declared 50 percent decline in net profit for half-year period ended on December 31, 2018, according to financial results submitted to Pakistan Stock Exchange (PSX) on Monday.
The state run oil company has declared Rs4.25 billion for January – December 2018 as compared with Rs8.522 billion in the corresponding period of the last year.
The company also declared 50 percent decline in earnings per share for the period to Rs10.86 when compared with Rs21.75 per share for the same period in the last fiscal year.
The gross profit of the company also came down to Rs15.99 billion during first six months of 2018/2019 when compared with Rs18.7 billion in the same period of the last year.
Net sales of PSO slightly increased to Rs572.54 billion for the period as compared with Rs522.5 billion in the corresponding period of the last fiscal year.
Profit from operation significantly declined to R11.11 billion during July – December 2018 when compared with Rs14.648 billion in the same period of the last fiscal year.

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