PSO posts annual loss of Rs6.46b

KARACHI: Pakistan State Oil Company Limited (PSO) on Tuesday declared Rs6.46 billion loss for the year ended June 30, 2020, according to financial results of the company submitted to Pakistan Stock Exchange (PSX).

The company posted Rs10.56 billion after tax profit for the year ended June 30, 2019.

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The company recorded sales of Rs1,108 billion for the year under review as compared with sales of Rs1,154.3 billion in the preceding year.

The gross profit of the company fell to Rs12.22 billion for the year ended June 30, 2020 as compared with the profit of Rs36 billion in the preceding year.

The operating costs of the company fell to Rs14.68 billion for the year ended June 30, 2020 as compared with Rs17.1 billion in the preceding year.

The PSO declared Rs13.77 loss per share for the year under review as compared with Rs22.55 earning per share during the preceding year.