PSO’s Q1 profit surges to Rs25.56 billion as sales growth outpaces the industry

Pakistan State Oil (PSO) reported a 172 per cent increase in profit after tax to Rs25.56 billion in the first quarter of FY27, as petroleum sales grew faster than the industry and the company strengthened its market position.

According to the company’s financial results released on October 29, PSO’s profit rose from Rs9.39 billion in the corresponding period last year, while earnings per share increased to Rs54.44 from Rs20.

Petroleum sales grew 17.8 per cent year-on-year during July-September, compared with industry growth of 7.1 per cent. The company’s market share increased by 4.2 percentage points to 45.9 per cent.

PSO attributed the improved performance to higher sales volumes and a stronger product mix, partly offset by increased finance costs. Its consolidated profit attributable to the group stood at Rs29.42 billion, with earnings per share of Rs62.66, including Pakistan Refinery Limited’s contribution.

Motor gasoline sales rose 23.2 per cent to 968,000 metric tonnes, while high-speed diesel sales increased 12.8 per cent to 759,000 tonnes. Aviation fuel sales grew 15.5 per cent, with PSO supplying 99.6 per cent of the Jet A-1 market.

During the quarter, the company imported 16 petroleum cargoes totalling 756,000 tonnes and sourced 1.019 million tonnes of gasoline and diesel from local refineries to maintain nationwide supplies.

PSO also expanded its retail network by 37 outlets to 3,727 sites and increased its electric vehicle charging network to 16 locations.

The company said it would continue diversifying supply sources, strengthening infrastructure and investing in emerging energy solutions to improve Pakistan’s energy security.