KARACHI: The Board of Directors of Shell Pakistan Limited has announced financial results for the year ended December 31, 2021. The company posted a profit after tax of Rs 4,466 million for 2021 compared to the loss of Rs 4,821 million in 2020.

The year 2021 saw significant recovery with a profit after tax in comparison to a tough last year. The encouraging turnaround is driven by factors that include the government’s initiative to switch pricing formula to Platts indexes aligning with international pricing, improved business performance, sale of differentiated fuels and lubricants, and running safe and efficient fuel operations. In addition, the rights issue was fully subscribed by shareholders at the beginning of the year that provided financial support to business plans.

During 2021, lubricants business marked a significant growth compared to the previous year.

Copyright Business Recorder, 2022