PSO sees over 42% decline in profit for nine-month period
MG News | April 29, 2025 at 12:17 PM GMT+05:00
April 29, 2025 (MLN): Pakistan State Oil Company Limited (PSX: PSO) has reported its financial results for the nine months ended March 31, 2025, showing a significant profit decline of 42.36%, with profit for the period falling to Rs10.67 billion compared to Rs18.51bn in the same period last year.
Net sales for the period stood at Rs2.46 trillion, reflecting an 11.98% decrease from Rs2.8tr in the previous year.
The company’s gross profit also dropped by 20.38% to Rs73.69bn, as the cost of products sold declined, but not as rapidly as the revenue.
Profit from operations decreased by 23.23% to Rs62.96bn, impacted by higher administrative expenses and operating costs.
Finance costs declined by 31.37% to Rs29.66bn, providing some relief to the company’s financials.
However, taxation remained a challenge, with total tax expenses reaching Rs13.25bn, reflecting a slight 3.01% increase compared to the previous year.
The company’s share of profit from associates decreased by 21.84%, contributing further to the overall decline in profitability.
As a result, earnings per share (EPS) dropped to Rs26.23 from Rs35.46, reflecting the overall drop in profitability.
| Financial Results for the Nine Month Ended March 31, 2025 (Rupees '000) | |||
| Category | Mar-25 | Mar-24 | %Change |
| Net Sales | 2,465,714,232 | 2,801,268,434 | -11.98% |
| Cost of Products Sold | (2,392,019,703) | (2,708,715,409) | -11.69% |
| Gross Profit | 73,694,529 | 92,553,025 | -20.38% |
| Other Income | 17,115,609 | 16,740,331 | 2.24% |
| Operating Costs | |||
| - Distribution & Marketing Expenses | (14,642,149) | (14,194,916) | 3.15% |
| - Administrative Expenses | (6,425,178) | (5,406,055) | 18.85% |
| - Provision for Impairment on Financial Assets - Net | (132,380) | (871,134) | -84.80% |
| - Other Expenses | (6,653,378) | (6,808,619) | -2.28% |
| Total Operating Costs | (27,853,085) | (27,280,724) | 2.10% |
| Profit from Operations | 62,957,053 | 82,012,632 | -23.23% |
| Finance Costs | (29,661,998) | (43,219,076) | -31.37% |
| Share of Profit of Associates - Net of Tax | 847,038 | 1,083,677 | -21.84% |
| Profit Before Taxation & Levies | 34,122,093 | 39,877,233 | -14.43% |
| Minimum Tax Differential & Final Taxes | (10,200,218) | (9,500,812) | 7.36% |
| Profit Before Taxation | 23,921,875 | 31,376,421 | -23.76% |
| Taxation | |||
| - Current Tax | (14,805,387) | (15,312,936) | -3.31% |
| - Prior Year Adjustments | 288,512 | 2,073,119 | -86.08% |
| - Deferred Tax | 1,265,815 | 375,473 | 237.13% |
| Total Taxation | (13,251,060) | (12,864,344) | 3.01% |
| Profit for the Period | 10,670,815 | 18,512,077 | -42.36% |
| Attributable to: | |||
| - Owners of the Holding Company | 12,312,430 | 16,848,217 | -26.92% |
| - Non-Controlling Interest | (1,641,615) | 1,863,860 | |
| Total Profit Attributable | 10,670,815 | 18,512,077 | -42.36% |
| Earnings Per Share - Basic & Diluted | 26.23 | 35.46 | -26.03% |
Copyright Mettis Link News
Related News
.png?width=280&height=140&format=Webp)
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 173,962.82 313.69M | 1.30% 2237.52 |
| ALLSHR | 104,178.62 550.40M | 0.93% 964.13 |
| KSE30 | 52,166.33 164.58M | 1.26% 649.19 |
| KMI30 | 250,496.48 141.11M | 1.59% 3930.77 |
| KMIALLSHR | 67,844.06 318.73M | 1.20% 801.29 |
| BKTi | 47,430.11 44.68M | 0.28% 130.40 |
| OGTi | 36,386.96 9.01M | 0.13% 45.59 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 73,715.00 | 73,760.00 73,715.00 | 0.00 0.00% |
| BRENT CRUDE | 91.89 | 92.95 89.93 | -0.81 -0.87% |
| RICHARDS BAY COAL MONTHLY | 117.00 | 0.00 0.00 | -0.75 -0.64% |
| ROTTERDAM COAL MONTHLY | 130.25 | 131.75 130.00 | -0.20 -0.15% |
| USD RBD PALM OLEIN | 1,157.50 | 1,157.50 1,157.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 87.76 | 89.02 86.35 | -1.14 -1.28% |
| SUGAR #11 WORLD | 14.07 | 14.35 13.90 | 0.14 1.01% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|