Karachi, October 05, 2021 (PPI-OT): Pakistan OMCs: Sales for Sep’21 increased by 29%YoY

OMC sales for Sep’21 clocked in at 2.0mn tons, up 29%YoY majorly due to low base as COVID-19 related restrictions kept the base low in Sep’20 however on MoM basis, sales remained flat. The YoY increase was led by HSD increasing by 51%YoY while MS witnessed an increase of 25%YoY.

Overall, for 1QFY22, OMC sales have increased by 24%YoY where FO led the pack with an increase of 38%YoY while MS/HSD posted an increase of 14/27%YoY.

PSO turned out to be the clear winner for Sep’21 with an increase of 41%YoY against 29%YoY for the industry where company clearly outperformed peers in retail fuel segment with an increase of 49%YoY against 36%YoY for the industry.

We expect OMC volumes to tread the same path with economic activity picking up pace while we believe the incentives provided in FY22 Budget to agriculture sector along with focus on infrastructure spending can provide a significant uplift to volumes in medium term.