Pakistan State Oil Emphasizes Innovation and Expansion in Renewable Energy at 48th AGM

Karachi: Pakistan State Oil (PSO), the country’s foremost energy corporation, held its 48th Annual General Meeting (AGM) in Karachi, marking significant achievements and strategic expansions in its operations. The meeting was chaired by Mr. Asif Baigmohamed, Chairman of the Board of Management, with the presence of Managing Director and CEO Syed Taha, other board members, and senior management.

According to Pakistan State Oil, the company reported a gross revenue of PKR 3.8 trillion for the fiscal year 2024, achieving a profit after tax of PKR 15.9 billion. This financial performance resulted in earnings per share of PKR 33.79, and the company declared a dividend of PKR 10 per share, which is equivalent to 100% for the fiscal year 2023-24.

During the AGM, management detailed initiatives aimed at vertical expansion, particularly through its subsidiaries CERISMA (Private) Limited and PSO Renewable Energy. CERISMA, PSO’s fintech arm, has been pivotal in advancing financial inclusion across Pakistan with a wide array of accessible digital services, now expanding into e-commerce and international payments. PSO Renewable Energy has been instrumental in expanding solar energy capacities, enhancing company profitability, and opening new revenue avenues while contributing to the national goals for renewable energy development.

Shareholders lauded PSO for its consistent performance and strategic initiatives focusing on innovation, financial empowerment, and maintaining its leadership stance in the dynamic energy sector of Pakistan.

The post Pakistan State Oil Emphasizes Innovation and Expansion in Renewable Energy at 48th AGM appeared first on Pakistan Business News.