Tuesday, June 25, 2024

PSO Posts Rs. 4.5 Billion Loss in 3 Months

The unconsolidated loss for the second quarter of the fiscal year 2023 (October-December 2022) for Pakistan State Oil Company Ltd (PSO) was Rs4.56 billion on Friday, down from the same period last year’s reported profit after tax of Rs20.2 billion.


As a result, loss per share was reported at Rs9.7 in 2QFY23 compared to Rs43.02 in SPLY for earnings per share (EPS).


PSO’s net sales for the three months ending December 31, 2022, increased to Rs843 billion from Rs522.749 billion for SPLY, or a 61.3% increase, according to a notice submitted to the Pakistan Stock Exchange (PSX) on Friday.


According to AKD Securities, “raised retail prices, which have been up significantly since May 22,” were “supportive of the growth in topline.”

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