Pakistan State Oil Co. (PSO.KA) said Friday it swung to a net profit for the last fiscal year thanks to a rise in fuel sales and prices.

The oil marketing company posted a net profit of PKR9.05 billion ($106 million) for the year ended June 30, compared with a net loss of PKR6.70 billion in the previous year.

Revenue rose 21% to PKR743 billion, it said in a statement to the Karachi Stock Exchange.

It proposed a final dividend of PKR5 a share for the last fiscal year.

Pakistan State Oil's customers include local companies such as Hub Power Co., Pakistan International Airlines Corp. and Oil & Gas Development Corp.

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