PSO FY26 profit surges over 2x

Mettis Global reported that Pakistan State Oil Company Limited (PSX: PSO) more than doubled its consolidated net profit for the financial year to June 30, 2026, to Rs31.58bn from Rs14.24bn a year earlier. Earnings per share rose to Rs54.29 from Rs35.03, and the board proposed a final cash payout of Rs10 per share. The company attributed the result mainly to a 37% rise in gross margins and a 21% decline in finance costs.

Net sales eased 3% to Rs3.21trn from Rs3.32trn, while cost of products sold fell 4% to Rs3.08trn, lifting gross profit to Rs133.25bn from Rs97.15bn. Distribution and marketing expenses climbed 8% to Rs23.81bn, administrative expenses rose 16% to Rs10.44bn and other expenses increased 27% to Rs8.35bn. Other income fell 25% to Rs18.31bn, while statutory levies and minimum tax differentials dropped 46% to Rs7.34bn. Profit before taxation rose 116% to Rs71.80bn, though taxation climbed 111% to Rs40.22bn.

Compared with the previous quarter, receivables were Rs40bn lower as of June 2026, and the recovery ratio reached 105% in the fourth quarter of FY26, according to Mettis Global. Cumulatively, receivables have declined by Rs133bn since December 2023, when gas prices were last revised, leaving an outstanding balance of Rs415bn as of June 2026.