PSO announces Rs 11.2bn profit for first half of FY2025

ISLAMABAD: Pakistan State Oil (PSO) has announced Rs. 11.2 billion profit  for the first half of the fiscal year 2025 as the company’s total sales revenue reached Rs. 1.74 trillion, with a gross profit of Rs. 9.1 billion.

According to PSO spokesperson, the company has achieved a market share of 47.1percent in the white oil sector, selling 3,610 thousand metric tons.

The company also secured a 48.1percent market share in the diesel market, with sales of 1,660 thousand metric tons. Additionally, PSO sold 1,601 thousand metric tons of petrol, capturing a 41.5percent market share.

The spokesperson added that the company’s total sales volume stood at 326.8 thousand metric tons. In December 2024, PSO’s sales increased by 22.3percent month-on-month, reaching 5.2 thousand metric tons. LPG sales also rose by 10percent to 27.56 thousand metric tons.

As of December 31, 2024, the company’s receivable stood at Rs. 467 billion, with Rs. 340 billion still has to be paid back by Sui Northern Gas Pipelines Limited (SNGPL).

Earlier, it was reported that the company’s profitability was severely impacted by the financial crisis, with the largest share of receivables has to be paid by the Sui Northern Gas Pipelines Limited (SNGPL).

The sources said that the SNGPL owes PSO Rs. 515.28 billion, while the Hub Power Company Limited (Hubco) has to pay Rs. 14.80 billion to it.

According to sources the energy Sector owes PSO Rs. 189 billion, and Pakistan International Airlines owes Rs. 29.25 billion.

The sources said that the PSO also owes payments to local refineries for imported petroleum products. The PSO has also sought Rs. 50 billion from different ministries.