Karachi: Hascol Petroleum Limited has released its financial results for the half year ending June 30, 2025, revealing a substantial downturn in its financial performance. The Board of Directors, in a meeting held on August 28, 2025, approved the accounts and confirmed that no dividend would be distributed for the period.

The company’s total assets diminished from 62.80 billion in December 2024 to 53.34 billion by the end of June 2025. Non-current assets saw a decrease, with property, plant, and equipment dropping to 23.30 billion from 24.56 billion, marking a moderate move. Current assets also declined, primarily due to a reduction in stock-in-trade from 26.56 billion to 17.42 billion, representing a very large or significant move.

Hascol Petroleum’s liabilities have decreased slightly from 149.30 billion to 144.73 billion. However, the company’s total shareholders’ deficit expanded from 86.51 billion to 91.39 billion. Current liabilities, including trade and other payables, experienced a slight decrease from 138.96 billion to 134.42 billion.

According to information available from the Pakistan Stock Exchange (PSX), Hascol Petroleum’s net revenue for the first half of 2025 was 93.15 billion. The cost of products sold was 90.90 billion, resulting in a gross profit of 2.25 billion. However, operating expenses, including distribution and marketing costs, reached 2.84 billion, leading to an operating loss of 244.96 million. The finance cost of 3.46 billion further exacerbated the financial situation, culminating in a loss before tax of 4.54 billion and a net loss of 4.89 billion for the period.

The loss per share, both basic and diluted, was reported at 4.89 rupees for the six months ending June 30, 2025, compared to a loss of 4.79 rupees for the same period in the previous year. Despite efforts to streamline operations, the company’s financial results underscore the challenges faced in the current market environment.