Islamabad, Feb 13: Pakistan State Oil (PSO), the nation’s leading energy provider, reported a stable performance for the first half of the fiscal year 2025, posting a net profit of Rs. 11.2 billion and gross sales of Rs. 1.74 trillion. The company’s Board of Management reviewed its performance for the period ending December 31, 2024, in a meeting held on February 13, 2025. PSO’s group net profit stood at Rs. 9.1 billion, translating into earnings per share of Rs. 19.48.
Despite challenges posed by a volatile market, PSO maintained a strong presence in Pakistan’s petroleum industry. The company effectively navigated market pressures, ensuring a steady fuel supply to meet the nation’s energy demands. PSO held a commanding 47.1% market share in the white oil segment with sales of 3,610 KMT.
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The company also strengthened its leadership in the diesel market with a 48.1% share, selling 1,660 KMT, while its MoGas portfolio secured a 41.5% market share with 1,601 KMT in sales. PSO dominated the jet fuel segment with an impressive 99.1% market share, reaching total sales of 326.8 KMT. Additionally, PSO achieved its highest-ever LPG sales in FY25, with monthly growth of 22% in December 2024, bringing total LPG sales for 1HFY25 to 27.56 KMT, a 10% increase from the previous year.
The company continued to invest in its infrastructure and logistics, completing the rehabilitation of three lubricant tanks at Keamari Terminal B and expanding its lubricant manufacturing facilities, adding 3 KMT of capacity. PSO also increased storage capacity at its Faqirabad depot by 25 KMT and expanded its retail network, with a total of 3,610 outlets across the country, along with the modernization of 111 convenience stores.
To enhance customer service, PSO implemented advanced technology solutions, including the expansion of Dispensing Unit Controllers (DUCs) to 1,200 retail sites. The company also launched VIBE, a concept store in Karachi, redefining the retail experience.
PSO collaborated with Pakistan Railways to introduce refueling services at 8 locations nationwide, improving logistics and sustainability. The company’s philanthropic efforts included contributing Rs. 130 million to non-profit organizations supporting healthcare, education, and community empowerment.
However, PSO’s financial performance continues to be affected by the ongoing circular debt crisis, with receivables totaling Rs. 467 billion as of December 31, 2024, including Rs. 340 billion owed by SNGPL. The company is working with the government to resolve the issue. PSO remains committed to delivering innovative, customer-centric solutions while advancing strategic projects to ensure sustainable growth and long-term value for its stakeholders.
