KARACHI: Pakistan State Oil (PSO) delivered a stable performance in 1HFY25, posting 44 per cent increase in its unconsolidated net profit to Rs11.2 billion, translating into earnings per share (EPS) of Rs23.81 compared to 1HFY24 profit of Rs7.8bn and EPS of Rs16.51.

The petroleum giant earned an unconsolidated profit of Rs7.2bn (EPS: Rs15.35) during 2QFY25.

In a meeting held on Thursday, the company’s board of management reviewed the financial performance for the half-year ended Dec 31, 2024. The group reported a net profit of Rs9.1bn, translating into EPS of Rs19.48.

The company maintained its market position with 47.1pc of the white oil segment driven by sales of 3.6 million tonnes. Sustaining a strong presence in the diesel market, PSO captured 48pc share of the diesel market, with sales of 1.66m tonnes, while its MoGas (petrol) portfolio secured a market share of 41.5pc with 1.601m tonnes in sales. The company solidified its leadership in the jet fuel segment, securing a 99pc market share with total sales of 326,000 tonnes.

Nestle sales fall

Nestle Pakistan Ltd (NPL) sales decreased 3.7 per cent year-on-year to Rs193.2 billion during 2024 amid a reduced demand due to the imposition of 18pc general sales tax on most products.

The results were announced at the end of the company’s board of directors’ meeting at its head office in Lahore. The company continued to invest strongly in the brands, which, coupled with a lower topline, contributed to a decline in operating profit.

Nestle invested Rs4.4bn in 2024, with Rs875 million spent on renewable energy (solar and biomass). All sustainability targets for 2024 were met, including greenhouse gas reduction, sustainable packaging, water regeneration, and collection of plastic waste, together with the inauguration of the 9th clean, safe drinking water facility.

In addition, Nestlé developed its first Urban Forest in Lahore with a plantation of 50,000 trees.

Published in Dawn, February 14th, 2025