PSO reports lower profit

KARACHI: Pakistan State Oil (PSO) has posted a lower profit after tax of Rs 4.583 billion during the half year ending December 31, 2011 as against Rs 7.130 billion in the same period last year.

According to financial results sent to Karachi Stock Exchange (KSE) here Thursday, the company has earned a profit before tax of Rs 6.696 billion for the period under review as compared to Rs 6.051 billion in the corresponding period 2010.

The earning per share also dropped to Rs 26.72 during July-Dec 2011 against Rs 41.58 in July-Dec 2010.

However, PSO's sales climbed to Rs 575.745 billion as compared to Rs 427.090 billion in the same period last year.