Refineries Swing to Massive Rs. 54.8 Billion Profit in FY26 After Prior-Year Loss

Pakistan's listed refinery sector swung back to a profit of Rs.

Key points

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• While petrol production rose 12.4 percent, diesel production rose 17.2 percent.
• While gross profit surged to Rs, 1.22 trillion in FY2025.
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• At the firm level, Attock Refinery posted an 85 percent rise in profit to Rs.

Pakistan's listed refinery sector swung back to a profit of Rs. 54.8 billion in FY2026 from a Rs. As stronger petrol and diesel refining margins, higher production and rose sales backed a sharp recovery in earnings, according to a report by Arif Habib Limited, 10.5 billion loss a year earlier.

Sector revenue rose 26.9 percent to Rs. 1.54 trillion from Rs. While gross profit surged to Rs, 1.22 trillion in FY2025. 107.4 billion from Rs. 10.4 billion. While the net profit margin stood at 3.6 percent, consequently, the sector's gross margin improved to 7 percent from 0.9 percent.

Higher fuel rates and climbed refinery activity backed the revenue expansion. While total petroleum product production climbed 13.4 percent to 11.2 million tons, ex-refinery rates of motor spirit, or petrol, and high-speed diesel rose 17 percent and 19 percent, respectively. Refinery utilization consequently improved to 55 percent from 48 percent in FY2025. Govt Austerity Drive to Save Only Rs. 17 Billion.

While petrol production rose 12.4 percent, diesel production rose 17.2 percent. Diesel accounted for 50.3 percent of total refinery output, up from 48.6 percent a year earlier. While jet petroleum's contribution rose to 4.9 percent from 4.4 percent, furnace oil's share declined to 21.1 percent from 23.1 percent.

Total refinery sales rose 8.6 percent to 10.8 million tons, led by a 13.6 percent rise in diesel sales and an 11 percent rise in petrol sales. Furnace oil sales, nevertheless, fell 7.8 percent as demand from the power sector weakened.

Refining margins provided a major boost to profitability. While the petrol margin rose to $7.4 per barrel from $2.9 per barrel, the diesel margin against Arab Light crude climbed to $29 per barrel from $9.7 per barrel. Arif Habib Limited attributed the stronger diesel margin partly to supply disruptions and more tough international cargo procurement after heightened geopolitical tensions after the US Iran conflict began in March 2026. Govt Won't Fully Disclose Civil Servants' Assets.

At the firm level, Attock Refinery posted an 85 percent rise in profit to Rs. 22.1 billion and declared a dividend of Rs. 17.50 per share. Pakistan Refinery returned to a profit of Rs. 15.8 billion from a Rs. 4.7 billion loss, despite a 1.7 percent decline in sales volume.

Cnergyico PK Limited additionally returned to profit, earning Rs. 10.8 billion compared with a Rs. As petroleum product sales rose 12.3 percent, 2.9 billion loss a year earlier. National Refinery posted a profit of Rs. 6.2 billion against a Rs. Although its earnings were affected by regarding Rs, 14.9 billion loss in FY2025. 13.5 billion in policy and accounting charges.

Notably, the recovery was concentrated in the first three quarters of FY2026. In the fourth quarter, sector gross profit dropped to Rs. 8.0 billion from Rs. 72.2 billion in the preceding quarter, even as revenue rose 27 percent to Rs. 530.8 billion. The report's FY2026 earnings chart on page 4 additionally indicates the sector's profit after tax reaching regarding Rs. 55 billion, compared with a loss in FY2025. Stay Connected with ProPakistani.

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In short, refineries Swing to Massive Rs. 54.8 Billion Profit in FY26 After Prior is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.