PSO 1QFY27 profit nearly triples to Rs32bn

October 29, 2026 (MLN): Pakistan State Oil Company Limited (PSX: PSO) reported a 2.9x surge in its condensed consolidated net profit for the first quarter ended September 30, 2026 (1QFY27 / 3MFY27), reaching Rs31.92bn compared to Rs11.18bn in the corresponding period of the previous fiscal year.

Reflecting this robust bottom-line expansion, basic and diluted earnings per share (EPS) for the three-month period surged  to Rs62.66, up from Rs22.43 recorded in 3MFY26.

The primary catalyst driving earnings was a 16% expansion in top-line net sales alongside a dramatic widening of gross margins.

Net sales rose to Rs896.60bn against Rs771.90bn in 3MFY26. With cost of products sold growing at a lower pace of 11% to Rs821.12bn (up from Rs738.17bn), gross profit surged 124% to Rs75.49bn compared to Rs33.73bn in the comparative quarter.

Consequently, the company's gross profit margin nearly doubled to 8.42% from 4.37% in 3MFY26.

On the operational side, overheads expanded as distribution and marketing expenses grew 28% to Rs6.53bn (up from Rs5.10bn), administrative expenses rose 15% to Rs2.11bn, and other expenses escalated over four-fold to Rs8.05bn from Rs1.72bn.

Total operating costs rose 93% to Rs16.69bn. Non-operating support remained positive though other income dropped 17% to Rs4.09bn against Rs4.96bn in the prior-year period.

Below the operating line, finance costs grew 5% to Rs7.31bn compared to Rs6.94bn in 3MFY26.

Associate contributions posted a positive turnaround, with the company recording a share of profit from associates of Rs97.65m against a loss of Rs51.21m previously.

Accounting for minimum tax differential charges of Rs324.52m (down 87% from Rs2.52bn), profit before taxation climbed 2.7x to Rs55.36bn from Rs20.44bn.

Following a net taxation expense of Rs23.44bn (up 2.5x from Rs9.26bn), Pakistan State Oil Company Limited securely closed the first quarter with a consolidated net profit of Rs31.92bn

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