Pakistan State Oil posted a sharp profit rise for the first quarter of this fiscal year. The company's after-tax profit rose 172% to Rs 25.56 billion. That is up from Rs 9.39 billion in the same quarter last year.
Earnings per share rose to Rs 54.44, from Rs 20 a year earlier.
At the group level, PSO's consolidated profit was Rs 29.42 billion. Consolidated EPS was Rs 62.66. This figure includes PSO's share of Pakistan Refinery Limited. PSO's petroleum sales grew 17.8% during the quarter. That is more than double the industry's growth rate of 7.1%. The company's market share rose 4.2 percentage points to 45.9%.
Motor gasoline sales rose 23.2% to 968,000 tonnes. High-speed diesel sales rose 12.8% to 759,000 tonnes. This came even as national diesel demand fell. Aviation fuel sales rose 15.5%. PSO supplied 99.6% of Pakistan's Jet A-1 fuel market. Lubricant sales rose 17.4% to 9,970 tonnes.
