Pakistan State Oil (PSO) has reported an impressive 180% increase in its earnings per share (EPS), which reached Rs33.79 for the fiscal year 2024. This significant growth has exceeded industry expectations and highlights the company’s strong financial performance.One of the main factors behind this remarkable achievement was a 424% surge in other income, primarily due to accrued interest on delayed payments.
This boost in income contributed to a quarterly profit of Rs2.5 billion, allowing PSO to declare a final cash dividend of Rs10 per share.Despite facing a challenging business environment, PSO managed to increase its net sales for FY24 to an impressive Rs3.6 trillion. This growth was largely driven by higher prices for petrol and diesel, which helped bolster the company’s revenue.
In addition to strong sales performance, PSO successfully reduced its distribution expenses and effectively managed the increased finance costs that came with operating in a difficult economic climate. The company’s ability to navigate these challenges while still delivering such strong financial results underscores its resilience and strategic management.This impressive financial report showcases PSO’s capability to thrive even in tough conditions, and its commitment to delivering value to its shareholders through consistent dividends and solid earnings growth.
