Karachi: Pakistan State Oil Company Limited (PSO) has reported a decline in both gross and net sales for the nine-month period ending March 31, 2025, compared to the same period last year. The company’s financial performance, detailed in its latest report, reveals gross sales of 2.51 trillion rupees, down from 2.84 trillion rupees in the previous year. Net sales also saw a decrease, falling to 2.34 trillion rupees from 2.67 trillion rupees.

The reduction in sales was coupled with a decrease in the cost of goods sold, which amounted to 2.26 trillion rupees, compared to 2.59 trillion rupees the previous year. This led to a gross profit of 73.29 billion rupees, down from 79.89 billion rupees. Administrative and distribution expenses increased to 19.74 billion rupees from 18.14 billion rupees, while other expenses also saw a rise, reaching 4.32 billion rupees from 3.75 billion rupees.

Operating costs, which include both administrative and other expenses, totaled 24.06 billion rupees, compared to 21.89 billion rupees in 2024. As a result, the operating profit for the period stood at 49.23 billion rupees, a decrease from 58.00 billion rupees in the previous year. Other income increased to 15.16 billion rupees from 13.29 billion rupees, while finance costs significantly reduced to 26.86 billion rupees from 40.41 billion rupees.

According to information available from the Pakistan Stock Exchange (PSX), the share of profit from associates decreased to 843 million rupees from 1.06 billion rupees. The profit before taxation rose to 38.38 billion rupees from 31.95 billion rupees, while the profit after taxation increased to 15.27 billion rupees from 13.40 billion rupees, despite a rise in taxation to 23.11 billion rupees from 18.55 billion rupees.

Earnings per share also witnessed an increase, reaching 32.52 rupees, up from 28.54 rupees in the previous year. The financial results reflect the challenges faced by the company in maintaining sales growth amidst varying market conditions.