Shell faces a tough financial year with PKR 4,762 million loss after tax

The Board of Directors of Shell Pakistan Limited (SPL) announced the first quarter results for the company on 4^th May. The company posted a loss after tax of PKR 4,762 million compared to the profit after tax of PKR 2,079 million made in the same period last year.

The period witnessed devaluation of the Rupee, rising inflation and macroeconomic uncertainty. Continued economic challenges resulted in slowdown in economic activity, decrease in demand and risks to supply security for the company. Finances and profitability of the company also continued to be impacted. However, SPL was able to maintain its market share.

SPL remains committed to operational excellence, safety performance, to further strengthen its financial position, and play a responsible role in society.

Check out? Meezan Bank announces Financial Results for the quarter ended March 31, 2023