Pakistan State Oil Company Limited’s financial results for the half year ended December 31, 2011

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Karachi: We are pleased to inform you that the Board of Management of’ the Company, in their meeting held today at Karachi reviewed the financial results of the Company and recommended NIL dividend.

The financial results of the company, for the half year ended, arc as follows:

 

	Six months period ended		Quarter ended
	Jul-Dec 2011	Jul-Dec 2010	Oct-Dec 2011	Oct-Dec 2010
	Rupees ‘000
Gross sales	575,745,095	427,090,198	297,235,770	225,127,334
Sales tax and IFEM	(82,869,393)	(67,137,155)	(43,095,752)	(35,536,550)
	———–	———–	———–	———–
Net sales	492,875,702	359,953,043	254,140,018	189,590,784
Cost of products sold	(476,458,683)	(346,008,895)	(245,401,241)	(182,359,542)
	———–	———–	———–	———–
Gross profit	16,417,019	13,944,148	8,738,777	7,231,242
Other operating Income	1,065,890	717,971	578,469	352,937
	———–	———–	———–	———–
	17,482,909	14,662,119	9,317,246	7,584,179
	———–	———–	———–	———–
Operating expenses	(7,814,672)	(4,177,741)	(4,525,889)	(2,225,858)
WPPF and WWF	(485,501)	(448,535)	(208,244)	(261,980)
	———–	———–	———–	———–
	(8,300,173)	(4,626,276)	(4,734,133)	(2,487,838)
Other income	1,260,639	1,796,123	364,583	1,377,532
	———–	———–	———–	———–
Profit from operations	10,443,315	11,831,966	4,947,696	6,473,873
Finance Cost	(4,000,167)	(6,043,812)	(2,127,653)	(3,068,340)
	———–	———–	———–	———–
	6,443,208	5,788,154	2,820,043	3,405,533
Share of profit of associates	252,879	263,816	135,079	129,300
	———–	———–	———–	———–
Profit before tax	6,696,087	6,051,970	2,955,122	3,534,833
Taxation – net	(2,112,720)	1,078,984	(859,064)	2,786,257
	———–	———–	———–	———–
Profit after tax	4,583,367	7,130,954	2,096,058	6,321,090
	———–	———–	———–	———–
Earnings per hare	26.72	41.58	12.22	36.86

 

The Financial Statements of the company will be placed on the company website i.e. http://www.psopk.com and 300 copies will be sent to you for distribution amongst the members of the Exchange.

 

For more information, Contact:
Pakistan State Oil Company Limited
PSO House, Khayaban-e-Iqbal,
Clifton, Karachi-75600 – Pakistan
UAN: 111-111 -PSO (776)
Website: www.psopk.com