Shell Pakistan Turns into a Loss Making Entity

Shell Pakistan Limited (SPL) has turned into loss making oil marketing company (OMC) that has recorded a loss of Rs 4.762 billion during first quarter results.

It had posted a profit of Rs 2.079 billion during the same period last year.Shell oil company Posts a profit of Rs 2.1 billion

The first quarter’s financial results for the company were released on May 4 by the board of directors of Shell Pakistan Limited (SPL).

In contrast to the profit after taxes of PKR 2,079 million the company reported during the same period last year, it reported a loss after taxes of PKR 4,762 million.

Inflation increased, the rupee was devalued, and there was macroeconomic unpredictability throughout this time.

An economic downturn, a decline in demand, and concerns to the company’s supply security were the results of ongoing economic difficulties.

Additionally, the company’s finances and profitability continued to suffer. SPL was able to hold onto its market share, nevertheless.

SPL is still dedicated to operating at the highest possible level of efficiency and safety, as well as to enhancing its financial standing and taking an active part in society.