Shell posts Rs7.46 billion profit in first half of 2022

KARACHI: Shell Pakistan Limited (SPL) posted a profit after tax of Rs7.46 billion during the first half of 2022, up 246 per cent compared with the profit of Rs2.15 billion in the same period of last year.

The company also announced its decision to discontinue its aviation operations across Pakistan. Presently, SPL carries out its aviation related operations at Jinnah Airport in Karachi, Quetta International Airport, Begum Nusrat Bhutto Airport in Sukkur and Nawabshah Airport.

After due consideration, SPL has decided that it is no longer commercially viable to continue with its aviation business in Pakistan.

“Shell Pakistan remains committed to continuing all its other businesses and operations in Pakistan, which remain unaffected,” the company said in a statement.

The company will actively work to minimise impact of current challenges and endeavour to capture opportunities to ensure the company plays a key role in developing Pakistan’s energy future, it added.

During the first half of 2022, the mobility business launched 13 new retail sites which will help deliver increased volume. Shell V-Power remains the market leader in the premium fuels category.

The company expects to expand its network in Punjab, through successful dialogue with the government.

The encouraging turnaround of the company was mostly driven by improved business performance focusing on strategic priorities such as differentiated fuels and lubricants, the positive change in pricing formula to pricing agency S&P Global Platts’ indexes by the government, and safe and efficient fuel operations, the company noted.

Further, Shell authored a book on Road Safety titled “Once upon a Road” with the aim of driving the behaviours in keeping roads safer in Pakistan. The book will be part of the Care Foundation school curriculum of sixth grade across Pakistan.

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