The group reported a net profit of PKR 9.1 billion
with earnings per share (EPS) of PKR 19.48.
Gross sales stood at PKR 1.74 trillion
Business Reporter
Karachi: Pakistan State Oil (PSO) has posted a net profit of PKR 11.2 billion in the first half of the fiscal year 2025 (1HFY25), maintaining its market leadership despite industry challenges.
Strong Financial Performance
PSO’s Board of Management reviewed the group’s financial results for the half-year ended December 31, 2024, in a meeting held on February 13, 2025. The group reported a net profit of PKR 9.1 billion, with earnings per share (EPS) of PKR 19.48. Gross sales stood at PKR 1.74 trillion.
Despite market volatility, the petroleum sector remained stable in the first half of FY25, with PSO ensuring an uninterrupted fuel supply to meet national energy demands.
Market Leadership
PSO retained its dominance in the white oil segment with a 47.1% market share, driven by sales of 3,610 KMT. In the diesel market, PSO secured a 48.1% share with sales of 1,660 KMT. The company also strengthened its presence in the motor gasoline (MoGas) segment, capturing a 41.5% market share with 1,601 KMT in sales.
The company further cemented its leadership in the jet fuel segment with a 99.1% market share, recording total sales of 326.8 KMT.
Record LPG Sales
PSO achieved its highest-ever LPG sales in FY25, with record monthly growth of 22%, reaching 5.2 KMT in December 2024. Total LPG sales in 1HFY25 stood at 27.56 KMT, reflecting a 10% increase from the previous year.
Infrastructure Expansion
PSO continued investing in strategic infrastructure to enhance logistics and supply chain efficiency. Key developments included:
- Rehabilitation of three lubricant tanks at Keamari Terminal B and Lubricant Manufacturing Plant A, adding 3 KMT capacity.
- Ongoing expansion with four additional tanks to increase capacity by 7 KMT.
- Construction of two new storage tanks at the Faqirabad depot, expanding PMG and HSD fuel storage capacity by 25 KMT.
Retail Network Expansion
To enhance customer experience, PSO expanded its retail footprint to 3,610 outlets nationwide and modernized 111 convenience stores. The company also extended its deployment of Dispensing Unit Controllers (DUCs) to 50 additional retail sites, bringing total coverage to 1,200 locations for improved data management and monitoring.
PSO introduced VIBE, a pioneering concept convenience store in Karachi, redefining the retail experience and setting new standards for convenience retailing.
Collaboration with Pakistan Railways
Strengthening its logistics network, PSO partnered with Pakistan Railways to introduce refueling services at eight strategic locations nationwide. This initiative aims to enhance railway efficiency, reduce environmental impact, and boost economic growth.
Social Responsibility Initiatives
PSO contributed PKR 130 million to various social welfare projects, including healthcare, education, youth development, community empowerment, and environmental sustainability.
Circular Debt Challenges
The circular debt crisis remains a concern, with PSO’s receivables totaling PKR 467 billion as of December 31, 2024. This includes PKR 340 billion owed by SNGPL. The company is actively engaging with the government to address and resolve this financial burden.
Commitment to Growth
PSO remains committed to customer-centric innovations and long-term strategic projects that enhance shareholder value and sustainable growth. The management extended its gratitude to stakeholders, including the Board of Management, the Government of Pakistan, the Ministry of Energy (Petroleum Division), shareholders, and employees, for their continued support and trust.
