Shell Pakistan Announces Financial Results for Q1 2023

The Board of Directors of Shell Pakistan Limited (SPL) announced the first quarter results for the company on May 4, 2023. 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 the devaluation of the Rupee, rising inflation, and macroeconomic uncertainty. Continued economic challenges resulted in a slowdown in economic activity, a decrease in demand, and risks to supply security for the company. The 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 and safety performance to further strengthen its financial position, and play a responsible role in society.