PSO reports Rs3.8tr revenue, announces expansion plans

KARACHI: Pakistan State Oil (PSO) reported a gross revenue of Rs3.8 trillion and a profit after tax of Rs15.9 billion for the fiscal year ended June 30, 2024. This translates to earnings per share (EPS) of Rs 33.79.

During its 48th Annual General Meeting (AGM) held in Karachi, PSO also declared a dividend of Rs10 per share, equivalent to a 100 per cent payout for FY23-24. The management updated shareholders on the company’s vertical expansion initiatives, which include Cerisma (Pvt) Limited and PSO Renewable Energy. Cerisma, PSO’s fintech arm, is promoting nationwide financial inclusion through accessible digital services, while expanding into e-commerce and international payments. Meanwhile, PSO Renewable Energy focuses on increasing solar energy capacity, boosting profitability and creating new revenue streams, while contributing to Pakistan's renewable energy growth.

Shareholders commended PSO’s consistent performance and its strategic focus on innovation through vertical expansion, financial empowerment and strengthened leadership in the country’s energy sector.