Oil giant cuts receivables and finance costs as consolidated profit reaches Rs25.49bn on Rs3.42trn revenue
Pakistan State Oil (PSO) posted a profit after tax of Rs15.07 billion for the financial year ended June 30, 2026, as stronger performance from its core oil marketing business and lower financing costs supported earnings despite volatility in its LNG operations.
The state-owned oil marketing company reported earnings per share of Rs32.1, while gross profit increased to Rs99.9 billion from Rs96.7 billion in FY25.
The stronger performance was largely driven by PSO’s core business. Excluding LNG operations, gross profit rose 20.5% to Rs81.9 billion from Rs67.9 billion a year earlier.
The improvement came despite a Rs10.7 billion fluctuation in the LNG segment, highlighting the stronger contribution from the company’s conventional oil marketing operations.
Receivables decline
PSO also reduced its trade receivables during the year, bringing the outstanding amount down to Rs414.8 billion from Rs437.5 billion.
Receivables from Sui Northern Gas Pipelines Limited (SNGPL) alone declined by Rs34.3 billion.
The reduction in outstanding receivables, combined with lower discount rates, helped PSO bring down its finance costs by 24% during FY26.
At the consolidated group level, profit after tax stood at Rs25.49 billion, while revenue reached Rs3.42 trillion.
Strong position in fuel markets
PSO retained a 42.7% share of Pakistan’s white oil market during FY26 and continued to dominate the aviation fuel segment, with a 99% market share.
The company said fuel supplies to international flights generated more than $360 million in foreign exchange during the year.
PSO also continued expanding its retail network, taking the total number of outlets across Pakistan to 3,688.
Its convenience-store network crossed the 350 mark during FY26, reflecting the company’s continued push beyond conventional fuel retailing.
PSO CEO Javed Ahmed Cheema said the company maintained uninterrupted fuel supplies across Pakistan during a challenging year while continuing to prioritise safe operations.
The FY26 results show a stronger contribution from PSO’s core oil marketing business, alongside progress in reducing receivables and financing costs, although LNG-related volatility remained a drag on overall performance.