Hascol Petroleum Limited has reported a loss of approximately Rs4.29 billion for the nine months ended September 30, 2026, according to its latest financial statements submitted to the Pakistan Stock Exchange (PSX).

The company’s financial results reflect continued pressure on its profitability, despite maintaining substantial net sales during the reporting period.

Sales Remain Substantial Amid Heavy Costs

Hascol Petroleum recorded net sales of approximately Rs151.82 billion during the first nine months of 2026, compared with Rs136.32 billion in the corresponding period of 2025. The increase in sales indicates higher reported revenue, although this growth did not translate into improved profitability.

The company’s cost of products sold reached approximately Rs148.83 billion, leaving gross profit of around Rs3.25 billion. Operating expenses, finance costs and other charges further weighed on the company’s financial performance.

Finance costs remained a significant burden, while exchange losses also contributed to the pressure on earnings.

Quarterly Performance Shows Continued Losses

For the third quarter ended September 30, 2026, Hascol Petroleum reported a loss of approximately Rs1.35 billion, compared with a loss of around Rs352.8 million in the same quarter of the previous year.

Quarterly net sales stood at approximately Rs50.08 billion, compared with Rs43.42 billion in the corresponding period of 2025. However, the increase in sales was accompanied by higher costs and expenses, resulting in a wider quarterly loss.

The company’s loss per share for the nine-month period stood at approximately Rs4.28, compared with Rs5.24 in the corresponding period last year. For the third quarter, the loss per share was around Rs1.35, against Rs0.35 a year earlier.

Financial Position and Cash Flow

Hascol Petroleum reported total assets of approximately Rs54.99 billion as of September 30, 2026, compared with Rs39.94 billion at the end of December 2025.

The company’s financial statements also showed substantial liabilities, reflecting its ongoing financial obligations. Cash and cash equivalents remained negative at approximately Rs25.57 billion at the end of the reporting period, according to the submitted statements.

Net cash generated from operating activities was approximately Rs2.64 billion during the nine months, compared with around Rs6.10 billion in the same period of 2025. The decline in operating cash generation highlights the importance of maintaining liquidity and managing working capital.

No Dividend Announced

The company’s board of directors did not announce a dividend for the period under review. The financial results were approved at the board meeting held on October 28, 2026, and communicated to the Pakistan Stock Exchange.

Outlook

Hascol Petroleum’s latest results highlight the challenges of converting higher sales into sustainable earnings amid significant product costs, financing expenses and other financial pressures.

Going forward, the company’s profitability will depend on its ability to control expenses, improve cash flow, manage liabilities and strengthen its overall financial position.

Investors will continue to monitor the company’s future results for signs of improvement in earnings, liquidity and financial stability.