PSO Profit Skyrockets By 150% to Rs. 38.1 Billion in 9 Months

Pakistan State Oil (PSO), the country’s national energy company, announced its financial results for the nine months ended March 31, 2026 (9MFY26), reporting 149 percent profit growth despite a highly volatile operating environment.

On a standalone basis, PSO posted a net profit of Rs. 38.1 billion, up significantly from Rs. 15.3 billion in the same period last year. Earnings per share (EPS) rose to Rs. 81.19, while gross sales for the period reached Rs. 2.4 trillion.

On a consolidated basis, PSO’s profit attributable to shareholders stood at Rs. 39.4 billion, with consolidated EPS increasing to Rs. 83.93, reflecting improved performance across the group, including PRL.

The third quarter of FY26 was marked by severe global disruptions, including military escalation in the Middle East and temporary closure of the Strait of Hormuz. The situation led to the sharpest inflation-adjusted crude oil price increase since 1988, with Brent crude rising from $69 to $103 per barrel within a month.

The supply chain was further affected by force majeure declarations from G-to-G suppliers, including QatarEnergy and Kuwait Petroleum Corporation, disrupting LNG and high-speed diesel shipments. In response, PSO strengthened its supply strategy by securing alternative international sources and increasing reliance on domestic refineries, helping avoid major shortages seen in other markets.

Market Position

PSO maintained its leadership in the white oil segment with a 42.6 percent market share and total sales of 5,163 KMT. Segment-wise, the company held a 42.4 percent share in diesel and 37.8 percent in motor gasoline (MoGas). In aviation fuel, PSO retained a dominant 99.2 percent market share.

The lubricants business recorded 16 percent volume growth, while the LPG segment achieved record cumulative sales of 46,895 MT, up 10 percent year-on-year.

Expansion

PSO continued expanding its infrastructure and service network. Storage capacity rehabilitation of over 43,000 MT is underway, while the retail network has grown to 3,663 outlets.

The company’s aviation fuel farms in Lahore, Sialkot, and Multan received JIG certification, bringing them in line with international fueling standards.

In the digital and sustainability space, PSO expanded its Dual Interface card rollout nationwide, integrated Raast QR payments through its fintech subsidiary Cerisma, and installed nine EV charging stations along the Karachi–Peshawar corridor.

CSR

PSO contributed Rs. 394 million toward healthcare and education initiatives, earning four awards at the 18th CSR Awards.

However, the company continues to face pressure from the circular debt issue, with receivables standing at Rs. 455 billion. PSO stated it remains engaged with the Government of Pakistan to work toward a long-term resolution of the liquidity challenge.

PSO said it remains focused on strengthening energy security through operational efficiency, infrastructure development, and innovation.