Shell Pakistan posts 1.9 bn profit for Q1 2021

Shell Pakistan Limited (SPL)'s of Directors reported financial findings for the first quarter on 22 April. In contrast to the losses in PKR 4,332 million in the same period last year, the firm reported a profit after tax of PKR 1,948 million.

Compared to last year, Q1 saw a significant recovery. The stimulus is largely motivated by an emphasis on policy priorities and operational excellence. The achievement was sustained by rising foreign petroleum prices coupled with Pakistan's rupee's 5 percent increase in the quarter against the US dollar.

The company started to expand its network throughout the quarter with the addition of seven additional sites.

SPL agreed to issue correct shares to ensure a good financial and monetary status, satisfy the needs of working capital and increase shareholder value. In Q1 2021 the procedure for the rights was concluded. On 2 March 2021, the correct problem was completely endorsed by shareholders and share allocations were made. Shell Petroleum Corporation Ltd. has spent Rs. 9 billion, which is increased from 76.11% by 77.42% in Shell Pakistan.

Shell Pakistan continues to pursue competitive business strategies to deliver top-quartile business results and to play an important part in improving Pakistan's future energy.