Karachi: Pakistan State Oil (PSO), the nation's energy leader, has reported a net profit of PKR 11.2 billion for the first half of the fiscal year 2025, alongside gross sales totaling PKR 1.74 trillion. The performance reflects the company's ability to maintain stability amidst a volatile market environment.
According to a statement by Pakistan State Oil, the company's Board of Management reviewed the group's performance during a meeting held on February 13, 2025. The group reported a net profit of PKR 9.1 billion for the half-year ended December 31, 2024, translating into earnings per share of PKR 19.48.
Despite challenges in the petroleum industry, PSO managed to provide a seamless fuel supply to meet the country's energy demands. In the first half of FY25, the company held a 47.1% market share in the white oil segment, driven by sales of 3,610 KMT.
PSO maintained a strong position in the diesel market, capturing a 48.1% share with sales of 1,660 KMT. Meanwhile, its MoGas portfolio secured a 41.5% market share with 1,601 KMT in sales. The company also led the jet fuel segment with a 99.1% market share, achieving total sales of 326.8 KMT.
The first half of FY25 saw PSO achieving its highest-ever LPG sales, with a record monthly growth of 22% in December 2024. Total LPG sales reached 27.56 KMT, marking a 10% increase from the same period in the previous fiscal year.
PSO's strategic infrastructure investments have enhanced logistics and supply chain capabilities. Significant developments include the rehabilitation of lubricant tanks at Keamari Terminal B, increasing capacity by 3 KMT, and an ongoing expansion at Lubricant Manufacturing Plant A to add 7 KMT.
The company expanded its storage capacity by 25 KMT for PMG and HSD fuels at the Faqirabad depot. It also focused on improving customer experiences by expanding its retail footprint to 3,610 outlets nationwide and modernizing 111 convenience stores.
PSO's commitment to operational excellence is evident in its expansion of Dispensing Unit Controllers to 50 additional retail sites, enhancing data management and network monitoring across 1,200 locations.
A notable retail initiative is the launch of VIBE, a concept convenience store in Karachi, aimed at redefining the retail experience. PSO also partnered with Pakistan Railways to offer refueling services at eight strategic locations, improving logistics efficiency and environmental sustainability.
In a move to support community welfare, PSO contributed PKR 130 million to non-profits focusing on healthcare, education, and environmental sustainability. However, the circular debt crisis poses challenges, with receivables totaling PKR 467 billion, including PKR 340 billion owed by SNGPL.
PSO is actively working with the government to address these financial challenges while continuing to innovate and deliver value-added services to its customers. The management expressed gratitude to all stakeholders for their continued support and trust.