Shell Witnesses Hefty Increase in Profits for Q3 2023

Staff Reporter

Shell Pakistan Limited (SPL) has witnessed a hefty increase in its profits of Rs 6.450 billion after tax for the nine months ended September 30, 2023.

The Board of Directors of Shell Pakistan Limited (SPL) announced nine months’ results for the company on October 18th, 2023.

The company successfully delivered a profit after tax of PKR 6,450 million for the nine months ended September 30, 2023, against a profit of Rs 2.864 billion during the same period last year.

An interim cash dividend for the quarter and nine months ended September 30, 2023, was announced.

As always, the company continues to focus on business performance, the safety of people, and the protection of the environment.OGRA Giving Undue Favor to Total Parco, Shell: PAC Chairman

OGRA recognized industry efforts in promoting refueling safety among two and three-wheelers, an initiative trailblazed by SPL.

During the period, the Mobility business introduced 19 new retail sites. The Company also introduced the Voice of Customer program through which customers can provide real-time feedback through QR codes placed at sites.

So far more than 30,000 responses have been received that give SPL valuable insights to continuously progress.

Furthermore, the company initiated two eco-friendly and sustainable solutions for plastic reusability. By recycling discarded Shell lubricant bottles, SPL constructed a plastic-infused road, 730 feet long and 60 feet wide, on which Shell House is located in Karachi.

This is a purpose-built solution that benefits neighboring residents, schools, the church community, and Shell.

The initiative was covered widely by the media. The other initiative is a collaboration with a Shell Tameer alumni, Concept Loop, a tech-based startup converting plastic waste into building materials, that deployed pavers at a Shell retail site in Karachi.

This successful initiative can be replicated at other retail sites planned for renovation and construction.Shell’s Divestment May Value around US$140m

In addition, SPL worked with local farmers in collaboration with the National Rural Support Programme (NRSP), to transform agricultural waste into valuable biochar – a product that can potentially improve soil health.

Through this project, the soil characteristics substantially improved which led to an increase in land yield by a significant 50%, indicating biochar technology as an opportunity to reduce emissions associated with agricultural waste burning.