On May 4th, the Board of Directors of Shell Pakistan Limited (SPL) announced the company’s first-quarter results. Unfortunately, the company posted a loss after tax of PKR 4,762 million for the quarter. This is a significant difference compared to the profit after tax of PKR 2,079 million that the company made during the same period last year.
The economic environment during the period was challenging, with a devaluation of the Rupee, rising inflation, and macroeconomic uncertainty. These factors led to a slowdown in economic activity, decreased demand, and risks to supply security for the company. The company’s finances and profitability were also impacted by these challenges.
Despite the difficulties faced by the company, SPL was able to maintain its market share. The company remains committed to operational excellence and safety performance. Additionally, SPL aims to further strengthen its financial position and play a responsible role in society.
Also read this: https://www.skipper.pk/shell-pakistan-reveals-its-financial-results-for-2022/