Pakistan State Oil posted record results for the financial year 2011 and announced an after tax earnings of Rs14.7 billion as compared to earnings after tax of Rs9.05 billion during the previous financial year. These results were declared after PSO’s Board of Management (BoM) convened on Tuesday at PSO House to review the company’s performance over the fiscal year 2010-11.
Despite financial challenges posed by the ever increasing circular debt and the economic slow down, PSO maintained its position as the market leader with a market share of 78.2 per cent and 54.4 per cent in the Black Oil and White Oil segments respectively, thereby contributing to an overall market share of 65.6 per cent.