Hascol Petroleum narrows half-year loss to Rs3bn

Mettis Global reported that Hascol Petroleum Limited (PSX: HASCOL) cut its consolidated net loss by 36 per cent for the half year ended June 30, 2026. The loss for the period stood at Rs3.10bn, compared with Rs4.87bn in the same period last year. Loss per share on a basic and diluted basis narrowed to Rs3.11 from Rs4.88.

Net revenue climbed 10 per cent to Rs102.04bn, with net sales reaching Rs101.85bn. Cost of products sold rose 11 per cent to Rs100.78bn, which pushed gross profit down 44 per cent to Rs1.26bn. Operating expenses fell 10 per cent, and other income jumped to Rs1.81bn from Rs363.52m, lifting operating profit to Rs449.77m from a loss a year earlier.

Finance cost eased 3 per cent to Rs3.36bn, while an exchange gain of Rs112.44m replaced a net loss of Rs827.19m in the prior year. Continuing operations posted a loss of Rs3.12bn, and discontinued operations added a profit of Rs16.83m. According to Mettis Global, the narrower loss reflects these movements, with the company recording no income tax charge in either period.