KARACHI, Oct 29 (APP):Pakistan State Oil (PSO) recorded a 17.8 per cent year-on-year increase in petroleum sales during the first quarter of FY2026-27, more than double the industry's growth of 7.1 per cent, raising its market share by 4.2 percentage points to 45.9 per cent. According to the company's financial results released on Thursday, PSO posted a profit after tax of Rs25.56 billion during July-September, compared with Rs9.39 billion in …
PSO sales rise 17.8pc, market share reaches 45.9pc in first quarter
KARACHI, Oct 29 (APP):Pakistan State Oil (PSO) recorded a 17.8 per cent year-on-year increase in petroleum sales during the first quarter of FY2026-27, more than double the industry’s growth of 7.1 per cent, raising its market share by 4.2 percentage points to 45.9 per cent.
According to the company’s financial results released on Thursday, PSO posted a profit after tax of Rs25.56 billion during July-September, compared with Rs9.39 billion in the corresponding period last year. Earnings per share rose to Rs54.44 from Rs20.
At the consolidated level, the company’s share in the group’s profit after tax stood at Rs29.42 billion, with earnings per share of Rs62.66, including the contribution of Pakistan Refinery Limited (PRL).
The company attributed its performance to higher sales volumes and an improved product mix, partly offset by increased finance costs.
PSO Chairman Board of Management Asif Baigmohamed congratulated the board, management, employees and shareholders, saying the increase in profitability reflected the collective commitment and confidence of stakeholders.
Chief Executive Officer Jawwad Ahmed Cheema said the company had expanded its market share while maintaining fuel supplies across Pakistan amid geopolitical tensions, regional shipping disruptions and volatile international oil prices.
He said PSO was diversifying its sourcing options, utilising domestic refinery supplies and strengthening its supply chain to improve resilience against external disruptions.
During the quarter, motor gasoline sales increased 23.2 per cent to 968,000 metric tonnes, while high-speed diesel sales rose 12.8 per cent to 759,000 tonnes despite a contraction in national diesel demand.
Aviation fuel sales grew 15.5 per cent, with PSO supplying 99.6 per cent of the Jet A-1 market, while lubricant sales increased 17.4 per cent to 9,970 tonnes.
To maintain supplies amid pressure on regional shipping routes, the company imported 16 cargoes of petroleum products totalling 756,000 tonnes and uplifted 1.019 million tonnes of motor gasoline and high-speed diesel from local refineries.
PSO also managed the country’s long-term liquefied natural gas supply portfolio during a period of supplier force majeure, working with the government to safeguard supplies to the power and gas sectors.
Subsequent to the quarter, the company signed a government-to-government sale and purchase agreement with Oman’s OQ Trading to broaden the country’s fuel sourcing options.
The company added 37 retail sites during the quarter, taking its network to 3,727 outlets nationwide, and expanded its electric vehicle charging network to 16 locations.
It also continued diversifying into renewable energy and storage, alongside progress on PRL’s expansion and upgrade project.
PSO reported zero fatalities, zero lost-time injuries and zero recordable incidents at its owned and controlled locations during the quarter.
Separately, the PSO CSR Trust contributed Rs112 million towards education, healthcare and community development initiatives across Pakistan.
The company said it would continue to focus on diversifying supply sources, strengthening critical infrastructure and investing in emerging energy solutions to support Pakistan’s energy security and evolving energy requirements.
