Shell Pakistan declares 81 percent decline in net profit

KARACHI: Shell Pakistan Limited on Tuesday declared 81 percent decline in its profit after tax.

The board of directors of the company in its meeting held on Tuesday approved financial results for the quarter ended March 2019.

The company posted net profit of Rs256.89 million for the period under review as compared with Rs1,355.96 million in the same quarter last year, showing 81 percent decline.

The sales of the company increased t Rs53.28 billion for the quarter ended March 31, 2019 as compared with Rs49.288 billion in the same quarter last year.

The net revenue after payment of sales tax came at Rs45.58 billion as compared with last year’s Rs41.61 billion.

The cost of production increased to Rs42.46 billion for the period as compared with Rs37.159 billion in the same period of the last year.

The operating profit of the company after administrative and distribution expenses fell to Rs629.57 million for the quarter ended March 31, 2019 as compared with Rs1,666 million in the same quarter of the last year.

The profit before taxation of the company stood at Rs514.56 million as compared with Rs1,893.41 million.

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