Karachi, February 13, 2025 – Pakistan State Oil (PSO) has announced an impressive profit growth of over 44% for the half-year period spanning from July to December of the fiscal year 2024-25.
This remarkable growth underscores the company’s strong financial performance and resilience in a challenging economic environment.
According to the half-year financial results submitted to the Pakistan Stock Exchange (PSX), PSO reported a profit after tax of Rs 11.18 billion for the first half of the current fiscal year. This figure represents a significant increase compared to the Rs 7.74 billion recorded during the corresponding period of the previous fiscal year.
The Earnings Per Share (EPS) for PSO also showed substantial growth, reaching Rs 23.81 for the first half of FY25. This marks a notable rise from the EPS of Rs 16.51 reported for the same period in the preceding fiscal year.
The Board of Management of PSO, during its meeting held on Thursday, February 13, 2025, reviewed and approved the financial results for the half-year ended December 31, 2024. However, the board decided against recommending any interim dividend for the period under review.
PSO’s gross sales for the first half of FY25 amounted to Rs 1.74 trillion, reflecting a decrease compared to Rs 1.93 trillion reported in the same period of the previous year. Despite this decline, the company’s profitability improved, demonstrating efficient cost management and operational effectiveness.
The total operating costs of PSO increased slightly to Rs 15.62 billion during the July to December period of FY25, up from Rs 15.18 billion in the corresponding period of the last fiscal year. This increase was primarily attributed to higher distribution and administrative expenses.
The company’s profit before taxation for the first half of FY25 stood at Rs 20.76 billion, slightly lower than the Rs 21.11 billion recorded in the previous fiscal year. Meanwhile, the cost of income tax for PSO decreased to Rs 9.59 billion during the reporting period, compared to Rs 13.36 billion in the prior year.
PSO’s robust performance in the first half of FY25 highlights the company’s strategic focus on optimizing operations and managing costs effectively amid fluctuating market conditions. As the nation’s leading energy provider, PSO continues to play a pivotal role in ensuring fuel supply stability across Pakistan.