PSO Profit Jumps 172% To Rs25.56 Billion In First Quarter FY27

Pakistan State Oil Company Limited (PSO) reported a 172% year-on-year increase in standalone profit after tax to Rs25.56 billion for the first quarter of fiscal year 2026-27, supported by higher petroleum sales and an improved product mix despite disruptions to regional energy supply routes.

The oil marketing company earned Rs9.39 billion in the corresponding quarter of the previous fiscal year, according to a statement released on Thursday.

Earnings per share (EPS) increased to Rs54.44 from Rs20 a year earlier.

At the group level, PSO’s share in consolidated profit after tax reached Rs29.42 billion, with EPS of Rs62.66, including the contribution of Pakistan Refinery Limited (PRL).

Petroleum Sales Outpace Industry Growth

PSO’s petroleum sales increased 17.8% year-on-year, more than twice the industry’s growth rate of 7.1%. The improvement lifted the company’s market share by 4.2 percentage points to 45.9%.

Motor gasoline sales rose 23.2% to 968,000 metric tonnes during the quarter, while high-speed diesel sales increased 12.8% to 759,000 metric tonnes, despite a contraction in national diesel demand.

Aviation fuel sales grew 15.5%, with PSO supplying 99.6% of the Jet A-1 market. Lubricant sales also increased 17.4% to 9,970 metric tonnes.

The figures indicate stronger sales across several major product categories, helping PSO expand its market position during the quarter.

Supply Chain Strengthened Amid Disruptions

PSO said it maintained fuel availability across Pakistan during a period of significant disruption to regional supply routes.

During the quarter, the company imported 16 petroleum-product cargoes totalling 756,000 metric tonnes. It also lifted 1.019 million metric tonnes of motor gasoline and high-speed diesel from local refineries.

Chief Executive Officer Jawwad Ahmed Cheema said the company had grown at more than twice the pace of the market while maintaining fuel availability nationwide.

He added that PSO was broadening its sourcing options, making greater use of domestic refinery supplies and strengthening its ability to respond to external disruptions.

The company also managed its long-term liquefied natural gas (LNG) supply portfolio during the reporting period.

PSO Signs Fuel Supply Agreement with Oman

After the quarter ended, PSO signed a government-to-government sale and purchase agreement with Oman’s OQ Trading.

The agreement is intended to broaden Pakistan’s fuel-sourcing options and strengthen the resilience of its energy supply chain.

The agreement was signed after the reporting period and should therefore be distinguished from the factors contributing to PSO’s first-quarter financial results.

Outlook

PSO said it would continue adapting to changes in the energy market while working to strengthen supply-chain resilience and advance its longer-term business strategy.

The company’s first-quarter performance reflected higher sales volumes, an expanded market share and continued sourcing from both international suppliers and domestic refineries.

Future performance will depend on petroleum demand, product margins, procurement costs, supply-chain conditions and the company’s ability to maintain its market position.