KARACHI: Pakistan State Oil (PSO), the country’s largest oil marketing company, reported on Tuesday a surge of 180 per cent in its profit-after-tax (PAT) to Rs15.9 billion in FY24 compared to Rs5.66bn in FY23.

The company’s board also announ­ced a dividend of Rs10 per share, representing a 100pc payout for FY24. PSO’s net sales rose to Rs3.74 trillion from Rs3.54tr, defying eco­nomic headwinds, inc­luding slow market grow­­th, currency fluctuations, and geopolitical uncertainty.

PSO’s subsidiary, Pakis­tan Refinery Ltd, recorded a PAT of Rs4.1bn and gross revenue of Rs403.6bn. On a consolidated basis, the group achieved a PAT of Rs18.3bn (earnings per share of Rs39).

Unilever Foods

Unilever Pakistan Foods Ltd announced a drop of 26pc in PAT to Rs3.8bn in the first half of 2024, ending on June 30, from Rs5.2bn in the corresponding period last year.

Sales declined by 9.3pc to Rs17bn from Rs18.7bn in the corresponding period of 2023.

JS Bank income surges

The JS Bank Ltd (JSBL) posted a 678pc surge in PAT to Rs5.5bn in the second quarter ending June 30 compared to Rs708.2m in the same period last year.

In a filing to the stock market, the bank reported EPS of Rs2.21 in 2QCY24, up from Rs0.54 in the same period last year.

Standard earns Rs10.24bn

Standard Chartered Bank earned a PAT of Rs10.24bn in 2QCY24 (EPS: Rs2.65) compared to Rs9.59bn in the same period last year, an increase of 7pc. The bank’s board announced the second interim cash dividend of Rs2 per share.

Published in Dawn, August 28th, 2024