KARACHI: The Board of Directors of Shell Pakistan Limited (SPL) announced half year results for the company on August 16. The company posted a profit after tax of Rs 3.5 billion compared to the profit after tax of Rs 7.5 billion made in the same period last year.

On June 14th, 2023, Shell Petroleum Company Limited, a subsidiary of Shell plc, announced its intention to sell its holding in SPL.

The period witnessed devaluation of the Rupee, rising inflation and macroeconomic uncertainty. Continued economic challenges resulted in slowdown in economic activity, decrease in demand and risks to supply security for the company. The results also reflect the impact of one-off technical service fee waiver received from Shell International Petroleum Company.

The safety campaign, “Ehtiyaat Bunay Hifazat” to promote refuelling safety for 2 and 3wheelers was recognized by the regulatory authority. The Company is keen to bring about a mindset and behaviour change amongst people to help drive this industry change.

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