Lower oil prices inflict Rs one billion loss on Shell Pakistan

The Board of Directors of Shell Pakistan Limited announced the company's financial results for the year ended December 31, 2014. While the company reported achievements in operational performance, increases in market share and growth profitability in its retail, lubricants and aviation businesses, its overall financial results were heavily impacted by exceptionally high inventory losses due to sharp decline in oil prices.
As such, the company posted a net loss after tax of Rs 1.067 billion against a profit after tax of Rs 1.061 billion in the same period last year. However, as the underlying profitability of the company was robust, the Board of Director declared a cash dividend of Rs 8 per share.