HASCOL Petroleum Limited has reported a return to profitability in the first quarter of 2026, posting a net profit of Rs448.6 million compared to a net loss of Rs3.09 billion recorded during the same period last year. The company’s board approved the unaudited financial results for the quarter ended March 31, 2026, and announced that no dividend would be distributed for the period.
According to the financial statement, HASCOL’s net sales rose to Rs48.39 billion during the quarter, up from Rs47.08 billion in the corresponding period of 2025. Gross profit surged significantly to Rs3.11 billion, compared with Rs587 million a year earlier, reflecting improved operational performance and stronger margins.
The company also reported an operating profit of Rs2.21 billion, a notable turnaround from an operating loss of Rs710 million in the same quarter last year. Finance costs remained elevated at Rs1.68 billion, but were slightly lower than the Rs1.75 billion recorded in the prior-year period. Exchange gains of Rs59.7 million further supported earnings during the quarter.
As a result, profit before tax and levy reached Rs591.5 million, compared to a loss of Rs2.9 billion in the first quarter of 2025. Earnings per share (EPS) stood at Rs0.45, reversing a loss per share of Rs3.09 reported a year earlier.
On the balance sheet side, HASCOL’s total assets increased to Rs57.84 billion as of March 31, 2026, from Rs39.94 billion at the end of December 2025. Inventory levels rose significantly to Rs23.22 billion, reflecting higher business activity. Meanwhile, shareholders’ deficit improved to Rs92.76 billion from Rs93.21 billion at the end of 2025, indicating gradual progress in strengthening the company’s financial position.
The company’s cash flow position also improved substantially. Net cash generated from operating activities amounted to Rs2.22 billion during the quarter, compared with a net cash outflow of Rs1.63 billion in the same period last year. This improvement highlights HASCOL’s ongoing recovery efforts and operational stabilization following several challenging years.
The latest quarterly results signal continued momentum in HASCOL’s turnaround strategy, with improved profitability, stronger cash generation, and enhanced operating performance positioning the company for further recovery in the coming quarters.
