Islamabad, Pakistan State Oil (PSO) and Attock Petroleum Limited (APL) are set to announce their financial results for the third quarter of fiscal year 2024, with both companies anticipating gains due to rising ex-refinery prices influenced by international market dynamics. PSO is projected to report a profit after tax (PAT) of PkR1.96 billion, with earnings per share (EPS) of PkR4.17. APL expects to post a PAT of PkR2.91 billion with an EPS of PkR23.4.

According to AKD Securities Limited, PSO's expected gains are largely due to inventory profits stemming from higher international gasoline and gasoil prices, which have been affected by tensions in the Middle East. The company’s gross margins are forecasted to increase to 2.9% for the quarter, up from a negative 0.4% in the previous quarter. PSO's total revenue for the quarter is expected to reach PkR853 billion, a 5% increase year-over-year. Meanwhile, APL is also benefiting from favorable ex-refinery prices and slightly higher regulated margins, leading to a quarterly gross margin of 3.3%. However, APL’s overall revenue is anticipated to decrease by 10% from the previous quarter to PkR121 billion.

The analysis further highlights the performance of the RLNG segment for PSO, with average delivered prices and an increase in quantity contributing to a revenue of PkR254 billion for the quarter. Both companies are rated as 'Buy' by AKDS, with target prices set for December 2024, suggesting substantial upside potential for their stocks.