PSO posts massive growth of 245% in six months

PSO posts massive growth of 245% in six months

KARACHI: Pakistan State Oil Company Limited (PSX: PSO) has declared massive growth of 245 per cent in net profit for the six months ended December 31, 2021.

According to financial results submitted to the Pakistan Stock Exchange (PSX) on Friday, the company declared Rs31.92 as profit after tax for the six month period ended December 31, 2021 as compared with Rs9.26 billion in the same half of the last year.

READ MORE: PSO registers 120% growth in quarterly profits

The company declared Rs68.20 as earnings per share (EPS) for the period under review as compared with EPS of Rs19.93 in the same period of the last year.

The board of management of the company in the meeting held on Friday and recommended a ‘nil’ dividend.

READ MORE: PSO’s prudent planning helps considerable savings

Net sales of the company surged to Rs998.77 billion for the half year ended December 31, 2021 as compared with Rs580.98 billion in the corresponding half of the last year.

The gross profit of the company was at Rs50.16 billion as compared with Rs21.38 billion.

Administrative costs increased to Rs1.81 billion during the six month period ended December 31, 2021 as compared with Rs1.72 billion in the same period of the last year.

READ MORE: PSO posts highest ever annual net profit of Rs29.1bn

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