Karachi: Hascol Petroleum Limited has disclosed its financial results for the half-year ending June 30, 2026, revealing a significant loss amid challenging market conditions. The Board of Directors approved the unaudited financial statements during a meeting at the company's corporate office on August 25, 2026. The company has announced that no dividends will be distributed for this period.

The report indicated that Hascol Petroleum experienced a substantial loss before income tax of approximately 3.14 billion rupees for the six-month period ending June 30, 2026, compared to a loss of around 4.89 billion rupees in the same period last year. The company also reported a loss per share of 3.15 rupees, a noticeable improvement from the 4.89 rupees loss per share recorded in the first half of 2025.

The net sales for the period amounted to approximately 101.83 billion rupees, a rise from the previous year's figure of 92.92 billion rupees. Despite this increase, the company faced a significant challenge with operating expenses, particularly in distribution and marketing activities, which totaled around 1.97 billion rupees, slightly down from 2.23 billion rupees in the previous year.

According to information available from the Pakistan Stock Exchange (PSX), Hascol Petroleum's total assets reached approximately 48.13 billion rupees as of June 30, 2026, up from 39.94 billion rupees recorded at the end of December 2025. The current assets saw a very large or significant move, rising from approximately 12.33 billion rupees in December 2025 to around 21.50 billion rupees by June 2026.

The company's total liabilities increased to approximately 144.26 billion rupees from 133.15 billion rupees recorded in December 2025. The increase in trade and other payables, which rose to approximately 60.86 billion rupees, played a significant role in this change.

Hascol Petroleum's financial challenges are underscored by a shareholders' deficit of approximately 96.13 billion rupees as of June 30, 2026. Despite these financial pressures, the company managed to reduce its finance costs to 3.36 billion rupees from 3.46 billion rupees in the same period last year.

The report reflects an ongoing effort by Hascol Petroleum to navigate through the prevailing economic pressures and market dynamics, aiming to stabilize its financial position and improve its operational efficiency in the coming months.