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Pakistan State Oil Company Limited (PSO) reported a stronger financial performance for FY2026 as its core business expanded despite major disruptions to regional energy supply chains.
The company said it maintained uninterrupted fuel supplies throughout the year.
PSO also reported zero fatalities and more than 48 million safe man hours during FY2026.
Its lost time injury rate and total recordable incident rate both stood at 0.07.
The company said close coordination with the government, refineries, suppliers, carriers, dealers and banks helped maintain fuel supplies during the period.
PSO announced its financial results for the year ended June 30, 2026, after a Board of Management meeting on September 25.
At the group level, PSO’s share of consolidated profit after tax reached Rs25.49 billion.
The group reported gross revenue of Rs3.42 trillion.
On a standalone basis, PSO posted profit after tax of Rs15.07 billion.
This translated into earnings per share of Rs32.10.
Standalone gross profit increased to Rs99.9 billion, compared with Rs96.7 billion a year earlier.
More importantly, gross profit excluding LNG rose 20.5%, from Rs67.9 billion to Rs81.9 billion.
The company said the growth reflected the strength of its core business despite a challenging operating environment.
PSO CEO Jawwad Ahmed Cheema said FY2026 tested the company’s ability to maintain energy supplies during disruption.
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“FY2026 tested this Company, and I am proud of how PSO responded,” Cheema said.
He said Pakistan’s fuel supply remained uninterrupted throughout the year.
According to Cheema, PSO’s core business absorbed a Rs10.7 billion swing in LNG while continuing to grow.
He said the company’s supply chain, storage infrastructure and distribution network remained central to Pakistan’s energy security.
PSO also reported progress in working capital management.
Trade receivables declined from Rs437.5 billion to Rs414.8 billion during the year.
Receivables from Sui Northern Gas Pipelines Limited (SNGPL) alone fell by Rs34.3 billion.
The company said lower discount rates, combined with improved receivables, helped reduce finance costs by 24%.
PSO continues to engage with the government on a long-term solution to the circular debt issue.
PSO said proactive import planning and procurement helped protect fuel availability during periods of regional uncertainty.
The company also relied on inventory management and cargo scheduling to maintain supplies.
Its storage network has a capacity of 1.23 million metric tonnes, which PSO describes as the largest in Pakistan.
The company said its infrastructure allowed it to serve all market segments during the Strait of Hormuz crisis.
The performance highlighted the importance of nationwide storage, distribution and supply infrastructure during periods of disruption.
PSO maintained its leading position in Pakistan’s white oil market with a 42.7% market share.
The company also retained a 99% share of the aviation fuel market.
Its aviation fuel business generated more than US$360 million in foreign exchange earnings during FY2026.
The company said its diversified portfolio also delivered growth across several businesses.
Lubricant volumes increased 6% to 44,000 tonnes.
LPG contribution nearly tripled during the year.
Chemical volumes increased 203% to 5,170 metric tonnes.
PSO also continued to expand its retail footprint.
Its nationwide retail network reached 3,688 outlets.
The company’s convenience retail network also grew to more than 350 locations.
PSO said the expansion will support its broader strategy to strengthen urban retail and improve customer services.
PSO said its FY2027 strategy will focus first on operational excellence and safety.
The company plans to strengthen product availability, pricing accuracy and measurement standards across its retail network.
It will also focus on disciplined credit management and timely deliveries.
PSO plans to integrate refinery offtake, imports, storage, distribution and commercial planning into a more coordinated supply chain.
The company will also target growth in core fuel volumes while placing greater emphasis on margins.
Other priorities include urban retail expansion, lubricants and LPG growth and further development of digital and payment platforms.
PSO also plans to advance major infrastructure projects, including the White Oil Pipeline, site solarisation and electric vehicle charging facilities.
The company said its people remain central to its operations.
PSO reaffirmed its focus on employee safety and wellbeing as it continues to support Pakistan’s energy requirements.
