Karachi: Pakistan State Oil Company Limited (PSO) has reported its financial performance for the fiscal year ending June 30, 2026, with a notable increase in profitability despite a decrease in net sales. The company's consolidated statement of profit or loss, released in its annual report dated October 7, 2026, reveals a significant growth in profit for the year.
According to the data, PSO's net sales for the year amounted to approximately 3.21 trillion rupees, a decline from the previous year's 3.32 trillion rupees. Despite this reduction in sales, the company achieved a gross profit of 133.25 billion rupees, up from 97.15 billion rupees in 2025. This increase in gross profit reflects a significant improvement in operational efficiency and cost management.
Operating costs for the company, comprising distribution, marketing, and administrative expenses, totaled 42.59 billion rupees, compared to 37.55 billion rupees in the previous year. Finance costs also decreased to 29.71 billion rupees from 37.41 billion rupees. The company's share of loss from associates amounted to 114,796 rupees, a reversal from a profit of 315,687 rupees in 2025.
Profit before taxation, minimum tax differential, and final taxes surged to 79.14 billion rupees, a substantial increase from 46.87 billion rupees in the prior year. After accounting for tax differentials and final taxes, the profit before taxation stood at 71.80 billion rupees.
The company's taxation expenses more than doubled, reaching 40.22 billion rupees compared to 19.03 billion rupees in 2025. Despite the increased tax burden, PSO's profit for the year grew to 31.58 billion rupees, representing a very large or significant move from 14.24 billion rupees the previous year.
According to information available from the Pakistan Stock Exchange (PSX), the earnings per share for PSO increased to 54.29 rupees from 35.03 rupees, reflecting the company's robust performance in generating shareholder value.
The profit attributable to the owners of the holding company was recorded at 25.49 billion rupees, while the non-controlling interest accounted for 6.09 billion rupees, contrasting with the previous year's loss of 2.20 billion rupees. This turnaround highlights the company's strengthened financial position and strategic execution in navigating market challenges.
Overall, PSO's financial results for the year highlight its resilience and ability to enhance profitability, despite facing a decrease in net sales and increased taxation. The company's strategic initiatives and effective cost management have played a pivotal role in achieving this commendable financial performance.