Karachi August 1 2024: Hascol Petroleum Limited loss plunged by 75 percent in first quarter ending March 2024 to PKR 1,739 million compared to PKR 7,039 million in the same period last year, according to company filing to the exchange.
Share price of the company surge by 44 paisas or 7.18 percent after the result announcement.
Sales of the company decreased by 14.2 percent during the quarter to PKR 27,526 million in the quarter ending March 31, 2024. Company post a reversal of PKR 406 million in other charges compared to loss of PKR 5,900 million in the same period last year.
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.
