Karachi, October 18, 2023 – Shell Pakistan Limited (SPL) has declared outstanding financial results for the first nine months of the year, showcasing a remarkable profit after tax of Rs 6.45 billion.
The announcement was made by the company’s Board of Directors on Wednesday, highlighting the impressive financial performance for the period ending September 30, 2023.
This substantial profit marks a significant leap from the corresponding period last year, where SPL recorded a profit after tax of Rs 2.86 billion, reflecting a substantial increase in earnings. The company attributes part of this success to a one-off technical service fee relief received from Shell International Petroleum Company.
In addition to the financial achievements, SPL has continued its unwavering focus on key principles such as business performance, safety, and environmental stewardship. The company remains committed to protecting the well-being of its employees and the environment while delivering top-tier results.
SPL’s commitment to safety and environmental responsibility was acknowledged by the Oil and Gas Regulatory Authority (OGRA) for its pioneering efforts in promoting refueling safety for two and three-wheelers, an initiative that SPL has been at the forefront of. During this period, the Mobility business introduced 19 new retail sites, expanding its footprint across the country.
To enhance the customer experience, SPL launched the Voice of Customer program, enabling real-time feedback through QR codes placed at their sites. This initiative has already received over 30,000 responses, providing valuable insights for continuous improvement.
One of the most noteworthy environmentally conscious initiatives undertaken by SPL was the construction of a plastic-infused road in Karachi, using discarded Shell lubricant bottles. The 730-foot-long and 60-foot-wide road, located at Shell House, benefits the local community and showcases an innovative approach to plastic waste management. The company’s collaboration with Concept Loop, a tech-based startup, demonstrates its commitment to sustainable solutions. They deployed plastic waste-conversion technology in the form of pavers at a Shell retail site in Karachi, setting the stage for further sustainable practices at other locations.
SPL also collaborated with local farmers, in partnership with the National Rural Support Programme (NRSP), to convert agricultural waste into valuable biochar. This environmentally friendly initiative improved soil health significantly, resulting in a remarkable 50% increase in land yield. The biochar technology has demonstrated potential to reduce emissions associated with agricultural waste burning.
As a part of its long-term commitment to operational excellence, safety, and community responsibility, SPL is continuing to work towards strengthening its financial position and ensuring a positive societal impact. The company’s performance reflects its dedication to sustainability, innovation, and responsible business practices, ultimately benefiting both shareholders and the environment.
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