Shell Pakistan Limited (SPL) has posted a profit after tax of Rs.1.3 billion for half year results for the company, compared to the profit after tax of Rs. 3.5 billion made in the same period last year.
SPL successfully maintained its market share amidst relatively stable macroeconomic conditions. The inflation rate eased to 12.6% in June, down from a peak of 30% in December last year, and the exchange rate remained relatively stable.
The company’s Mobility business expanded its network by adding 10 new stations and 60 non-fuel retail units. Additionally, the Lubricants business signed an exclusive agreement with MG Motors, ensuring the use of Shell Helix motor oils for MG vehicles.
In October 2023, Shell Petroleum Company Limited entered into a Share Purchase Agreement with Wafi Energy LLC for the sale of its entire shareholding in SPL. This transaction is currently in progress.
In April 2024, an Addendum to the agreement was posted on the Pakistan Stock Exchange (PSX), reflecting a change in the capital ownership structure of the Acquirer, where Wafi Energy Holding Limited replaced Wafi Energy LLC as the ‘Acquirer.’
Furthermore, Shell Tameer engaged approximately 200 students in workshops focused on entrepreneurship and the business model canvas at various educational institutes and incubation centers across Lahore, Karachi, Jamshoro, and Faisalabad.
