Shell Pakistan announces financial results for Q1 2022
Apr 21, 2022
The Board of Directors of Shell Pakistan Limited (SPL) announced the first quarter results for the company on 21st April. The company posted a profit after tax of PKR 2,079 million compared to the profit of PKR 1,948 million made in the same period last year.
The encouraging turnaround is mainly driven by improved business performance focusing on strategic priorities such as differentiated fuels and lubricants, the positive change in pricing formula to Platts indexes by the government, and safe and efficient fuel operations.
During this period, the Mobility business launched three new sites which will help deliver increased volume. There has been encouraging development in the company’s advocacy with OGRA which will enable expansion of our network in Punjab. Furthermore, Shell Tameer entered into an agreement with the Institute of Business Management (IOBM) Shahjehan S Karim Incubation Center to promote youth entrepreneurship in Pakistan. Through this partnership both institutes will work together to inculcate entrepreneurial skills through trainings, mentoring and business incubation services to create opportunities for young Pakistani start-ups.
The organisation continues to be at the forefront of the industry in Pakistan in ensuring safe operations across the business and focuses on inculcating a culture of safety through workshops and dialogue with staff, business partners, and industry partners.
Shell Pakistan will continue to actively work to minimize impact of current challenges and endeavor to capture opportunities to ensure the company plays a key role in developing Pakistan’s energy future.