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Pakistan State Oil Ltd. profits fall 6.59 percent to Rs. 13.224 billion

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Pakistan State Oil Limited (PSO) today announced financial results for the nine months period ending 31 March, 2018 reporting Gross Sales at Rs. 925.565 billion. Furthermore, the company’s net sales after sales tax and IFEM during the outgoing nine months rose by 18.29 percent to reach 744.639 billion.

Furthermore, national oil marketing company’s Gross Profit during the period reached Rs. 28.911 billion up 7 percent from same period last year. The company also reported a 18.8 percent rise in Cost of Products sold clocking in at Rs. 175.727 billion.

Among other heads, Other Income went down by 36.63 percent during the period reaching 23.853 billion from 25.472 billion last year.

On the expenses front, operating costs for the period reported a 5.76 percent increase reaching 10.139 billion as well.

Pakistan State Oil reported profit after taxation at Rs. 13.224 billion down by 6.58 percent from 14.156 billion last year translating into an EPS of Rs. 40.56 vs. an EPS of Rs 43.42 during the nine months ending March, 2017. 

In addition to that, the company declared an interim cash dividend of Rs.  10/ per share, equivalent to 100 percent.  

Comparison of Key Financials

Unconsolidated Profit and Loss Account – For the Nine Months Ended, March 30th 2018

Key Financials

March, 2018

March, 2017

% Change

 

Amounts in PKR ‘000

Gross Sales

925,565,658

786,077,317

17.74%

Sales Tax and IFEM

180,926,584

156,579,396

15.55%

Net Sales

744,639,074

629,497,921

18.29%

Cost of Products Sold

715,727,286

602,456,873

18.80%

Gross Profit

28,911,788

27,041,048

6.92%

Other Income

5,081,033

8,018,645

-36.63%

Operating Costs

10,139,476

9,587,408

5.76%

Profit from Operations

23,853,345

25,472,285

-6.36%

Finance Costs

3,686,496

4,331,051

-14.88%

Share of Profit of Associates – Net of Tax

266,443

535,795

-50.27%

Profit before Taxation

20,433,292

21,677,029

-5.74%

Taxation

7,208,609

7,520,711

-4.15%

Profit for the Period

13,224,683

14,156,318

-6.58%

EPS – Basic and Diluted

40.56

43.42

-6.59%

Company release on Earnings Report can be accessed here.

Posted on: 2018-04-23T11:03:00+05:00