ISLAMABAD: The Board of Directors of Shell Pakistan Limited (SPL) announced the first quarter results for the company on 4th May.

The company posted a loss after tax of PKR 4,762 million compared to the profit after tax of PKR 2,079 million made in the same period last year.

The period witnessed devaluation of the rupee, rising inflation and macroeconomic uncertainty.

Continued economic challenges resulted in the slowdown in economic activity, decrease in demand and risks to supply security for the company.

Finances and profitability of the company also continued to be impacted. However, SPL was able to maintain its market share.

SPL remains committed to operational excellence, safety performance, to further strengthen its financial position, and play a responsible role in society.

Copyright Business Recorder, 2023