KARACHI – Pakistan State Oil (PSO) has posted an after tax earnings of Rs 7.13 billion in 1HFY11 in comparison with Rs 5.08 billion in 1HFY10 which is the highest in last 34 years. The Board of Management convened on Wednesday at PSO House to review the company’s performance over the first half of financial year 2010-11 (1HFY11).
Despite severe financial challenges posed by the ever burgeoning circular debt, PSO achieved record breaking results, and posted its highest half year profit in its 34 year history. PSO posted an after tax earnings of Rs 7.13 billion in 1HFY11 in comparison with Rs 5.08 billion in 1HFY10.
The company’s sales revenue for the given period touched Rs 427 billion as compared to Rs 414 billion during the corresponding period last year. In recognition of the remarkable performance of the company and its management under the guidance of PSO MD Irfan Qureshi, the BOM has declared a first interim cash dividend of Rs five per share for the year ending June 30, 2011.
PSO reports record profits
