External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>Pakistan State Oil Company (PSO) announced its 3QFY24 result today, where the company recorded unconsolidated profit of Rs5.6bn (EPS of Rs12.03). The result came higher than industry expectations for 3QFY24 due to lower than expected tax expense.</li><li>This takes 9MFY24 earnings to Rs13.4bn (EPS of Rs28.54) compared to 9MFY23 profit of Rs10.3bn (EPS of Rs21.91) up 30% YoY.</li><li>The company recorded a tax reversal in 3QFY24, compared to a 49% effective tax rate in 3QFY23 and 13% in 2QFY24. We await detailed accounts for further clarity on taxation reversal for outgoing quarter.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Pakistan State Oil Company (PSO) announced its 3QFY24 result today, where the company recorded unconsolidated profit of Rs5.6bn (EPS of Rs12.03). The result came higher than industry expectations for 3QFY24 due to lower than expected tax expense.This takes 9MFY24 earnings to Rs13.4bn (EPS of Rs28.54) compared to 9MFY23 profit of Rs10.3bn (EPS of Rs21.91) up 30% YoY.The company recorded a tax reversal in 3QFY24, compared to a 49% effective tax rate in 3QFY23 and 13% in 2QFY24. We await detailed accounts for further clarity on taxation reversal for outgoing quarter.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pakistan State Oil (PSO): 3QFY24 EPS at Rs12.03 Down 59% YoY