PSO posts massive 4x jump in profit to Rs40bn

April 29, 2026 (MLN): Pakistan State Oil Company Limited (PSX: PSO) reported a nearly fourfold expansion in profit for the period for the nine months ended March 31, 2026, recording Rs40.17bn compared to Rs10.67bn in the corresponding period last year.

The company's basic and diluted earnings per share (EPS) more than tripled to Rs83.93, up from Rs26.23 in 9MFY25, showing exceptional value accretion for shareholders during the period.

PSO's net sales declined 4.23% to Rs2.36tr from Rs2.47tr. However, cost of products sold contracted at a considerably faster pace of 7.52% to Rs2.21tr, well below the revenue decline rate.

This allowed gross profit to more than double to Rs149.10bn from Rs73.69bn, emerging as the primary driver of the overall earnings expansion.

Distribution and marketing expenses rose 15.55% to Rs16.92bn while administrative expenses grew a contained 8.17% to Rs6.95bn.

Other expenses escalated sharply to Rs16.01bn from Rs6.79bn, adding meaningful pressure. Finance costs declined significantly by 31.81% to Rs20.24bn from Rs29.68bn, providing a substantial tailwind.

The share of associates swung to a loss of Rs118.18m from a profit of Rs847.04m in the prior year.

Profit before taxation stood at Rs95.90bn, more than quadrupling from Rs23.92bn in 9MFY25. Taxation rose to Rs56.74bn from Rs13.25bn, showing the significantly higher taxable profit base.

After accounting for taxation, Pakistan State Oil Company Limited closed the nine-month period with a profit for the period of Rs40.17bn, representing a nearly fourfold expansion over the Rs10.67bn reported in the corresponding period of last year.

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