Karachi: Pakistan State Oil Company Limited (PSO), the country’s largest oil marketing company, reported a remarkable increase in profitability for the nine months ended March 31, 2026, as earnings more than doubled despite a decline in sales.
According to the financial results approved by the company’s Board of Management, PSO posted an unconsolidated net profit of Rs38.12 billion for the nine-month period, compared with Rs15.27 billion recorded in the corresponding period last year. Earnings per share (EPS) also rose significantly to Rs81.19, up from Rs32.52 a year earlier.
The company generated net sales of Rs2.24 trillion, down from Rs2.34 trillion in the same period last year. However, a substantial improvement in gross margins helped lift gross profit to Rs133.62 billion, compared with Rs73.29 billion previously.
For the third quarter alone, PSO earned Rs25.99 billion, a sharp increase from Rs4.09 billion in the corresponding quarter of FY2025. Quarterly EPS improved to Rs55.37, reflecting the company’s stronger operational performance.
Despite higher operating expenses and finance costs during the period, the significant rise in gross profitability enabled PSO to deliver a much stronger bottom line. The company reported a profit before taxation of Rs85.91 billion, compared with Rs29.56 billion in the same period last year.
On a consolidated basis, PSO recorded a profit attributable to shareholders of Rs39.40 billion, compared with Rs12.31 billion a year earlier, while consolidated earnings per share climbed to Rs83.93 from Rs26.23.
The Board of Management did not recommend any interim cash dividend for the period ended March 31, 2026.
The latest results highlight PSO’s improved profitability despite challenging market conditions and lower revenue, driven by stronger margins and enhanced operational performance. Investors will now be watching the company’s ability to sustain this momentum in the final quarter of the financial year.
