Hascol Petroleum narrows 9-month loss to Rs4bn

MG News | October 28, 2026 at 04:42 PM GMT+05:00

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October 28, 2026 (MLN): Net loss of Hascol Petroleum Limited (PSX: HASCOL) narrowed 19.04% year-on-year to Rs4.26bn for the nine months ended September 30, 2026, compared with Rs5.26bn in the same period last year.

Loss per share (LPS) improved 19.01% to Rs4.26 from Rs5.26 in the corresponding period last year. LPS from continuing operations stood at Rs4.28, against Rs5.21, while discontinued operations contributed earnings of Rs0.02 per share, against a loss of Rs0.05 per share.

The narrower loss came from a swing to an exchange gain, lower distribution and administrative costs and a 46% rise in operating profit. A 3.49% rise in finance cost and a more than doubled other expenses line partly offset the gains.

Net sales grew 11.37% to Rs151.82bn from Rs136.32bn, while other revenue declined 13.71% to Rs290.06m from Rs336.14m. Net revenue rose 11.31% to Rs152.11bn from Rs136.65bn.

Cost of products sold rose slightly faster, by 11.56%, to Rs148.83bn from Rs133.41bn, which limited gross profit growth to 1.08% at Rs3.28bn, compared with Rs3.25bn.

Distribution and marketing expenses fell 11.08% to Rs2.98bn from Rs3.35bn, while administrative expenses declined 5.91% to Rs859.10m from Rs913.08m.

The company booked an impairment reversal on financial assets of Rs3.37m, against a loss of Rs19.25m last year. Other expenses rose more than 2.4-fold to Rs148.35m from Rs59.95m, and other income edged down 0.73% to Rs1.92bn from Rs1.93bn.

As a result, operating profit climbed 45.67% to Rs1.21bn from Rs833.93m.

Finance cost increased 3.49% to Rs5.13bn from Rs4.96bn. The company booked a net exchange gain of Rs141.09m, against a loss of Rs625.55m last year, while share of profit on associate rose 13.85% to Rs42.05m from Rs36.93m.

Loss before income tax and levy from continuing operations narrowed 20.77% to Rs3.74bn from Rs4.72bn. A minimum tax differential of Rs537.42m, up 10.28% from Rs487.33m, took the loss before income tax from continuing operations to Rs4.27bn, down 17.86% from Rs5.20bn. No taxation was booked on continuing operations in either period.

Discontinued operations turned to a profit after tax of Rs17.43m, against a loss of Rs53.92m last year, which brought the net loss for the period to Rs4.26bn.

STATEMENT OF PROFIT OR LOSS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026 (Rs.000)
Description	2026	2025	Change (%)
Sales - net	151,855,345	136,370,354	11.36%
Sales tax	(30,821)	(51,585)	-40.25%
Net sales	151,824,524	136,318,769	11.37%
Other revenue	290,062	336,137	-13.71%
Net revenue	152,114,586	136,654,906	11.31%
Cost of products sold	(148,832,394)	(133,407,771)	11.56%
Gross profit	3,282,192	3,247,135	1.08%
Distribution and marketing	(2,982,598)	(3,354,388)	-11.08%
Administrative	(859,096)	(913,079)	-5.91%
Impairment losses on financial assets	3,372	(19,248)
Other expenses	(148,354)	(59,949)	147.47%
Other income	1,919,291	1,933,454	-0.73%
Operating profit	1,214,807	833,925	45.67%
Finance cost	(5,134,162)	(4,961,017)	3.49%
Exchange (loss)/gain - net	141,086	(625,552)
Share of profit on associate	42,045	36,930	13.85%
	(4,951,031)	(5,549,639)	-10.79%
Loss before income tax and levy (final & minimum tax) from continuing operations	(3,736,224)	(4,715,714)	-20.77%
Final taxes	-	-
Minimum tax differential	(537,421)	(487,331)	10.28%
Loss before income tax from Continuing operations	(4,273,645)	(5,203,045)	-17.86%
Loss after tax from continuing operations	(4,273,645)	(5,203,045)	-17.86%
Profit/(loss) before tax	24,552	(44,578)	-155.08%
Taxation	(7,120)	(9,342)	-23.79%
Profit/(loss) after tax from discontinuing operations	17,432	(53,920)
Loss for the period	(4,256,213)	(5,256,965)	-19.04%
Loss per share - basic and diluted (Rupees)
From Continues Operation	(4.28)	(5.21)	-17.85%
From Discontinues Operation	0.02	(0.05)
Loss per share - basic and diluted (Rupees)	(4.26)	(5.26)	-19.01%

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