Pakistan State Oil (PSO), the country’s leading oil marketing company, has reported a significant increase in its profit-after-tax (PAT) for the fiscal year 2024. The PAT surged by 180% to Rs15.9 billion, compared to Rs5.66 billion in the previous fiscal year (FY23). Despite challenging economic conditions, including slow market growth, currency fluctuations, and geopolitical uncertainties, PSO’s net sales rose to Rs3.74 trillion from Rs3.54 trillion.
The company’s board announced a dividend of Rs10 per share, representing a 100% payout for FY24. PSO’s subsidiary, Pakistan Refinery Ltd, also performed well, recording a PAT of Rs4.1 billion and gross revenue of Rs403.6 billion. On a consolidated basis, the PSO Group achieved a PAT of Rs18.3 billion, with earnings per share (EPS) of Rs39.
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Unilever Pakistan Foods Ltd reported a decline in its PAT by 26% to Rs3.8 billion for the first half of 2024, ending on June 30, compared to Rs5.2 billion in the corresponding period last year. The company’s sales also dropped by 9.3% to Rs17 billion from Rs18.7 billion in the same period of 2023.
JS Bank Ltd (JSBL) experienced a remarkable 678% increase in its PAT for the second quarter ending June 30, 2024, reaching Rs5.5 billion, up from Rs708.2 million in the same period last year. The bank reported an EPS of Rs2.21 for 2QCY24, a significant rise from Rs0.54 in the same quarter of the previous year.
Standard Chartered Bank recorded a 7% increase in PAT for 2QCY24, earning Rs10.24 billion (EPS: Rs2.65) compared to Rs9.59 billion in the same period last year. The bank’s board declared a second interim cash dividend of Rs2 per share.
