Karachi November 10 2022: HASCOL Petroleum Limited (HASCOL) reported loss of PKR 9.4 billion during the first nine months of 2022, according to company filing to the exchange.
HASCOL share price drop 3.9 percent or 33 paisa after the announcement of the result.
The amount of loss is 118% higher when compared with loss of PKR 4.3 billion in the same period last year.
Company recorded gross profit of PKR 2.9 billion in nine months when compared with gross profit of PKR 1.7 billion in the same period last year.
Company incurred finance cost of PKR 5.8 billion in nine months compared with PKR 4.9 billion last year while exchange losses increased to PKR 3.2 billion when compared with PKR 1.2 billion in the same period last year.
About the Company
Hascol Petroleum Limited was incorporated in Pakistan as a private limited company on March 28, 2001. On September 12, 2007 the Company was converted into a public unlisted company. The Company is engaged in the business of procurement, storage and marketing of petroleum, chemicals, LPG and related products. The Company obtained oil marketing license from Ministry of Petroleum and Natural Resources in the year 2005 and acquired assets of LPG licensed company in the year 2018.
