The Board of Directors of Shell Pakistan Limited (SPL) announced financial results for the year ended December 31st, 2021. The company posted a profit after tax of PKR 4,466 million for 2021 compared to the loss of PKR 4,821 million in 2020.
2021 saw significant recovery with a profit after tax in comparison to a tough last year. The encouraging turnaround is driven by factors that include the government’s initiative to switch pricing formula to Platts indexes aligning with international pricing, improved business performance, sale of differentiated fuels and lubricants, and running safe and efficient fuel operations. In addition, the rights issue was fully subscribed by shareholders at the beginning of the year that provided financial support to business plans.
During 2021, lubricants business marked a significant growth compared to the previous year. In collaboration with Health and Nutrition Development Society (HANDS), a COVID-19 vaccination drive was organized deputing Mobile Vaccination Units in Karachi, Lahore and Multan for customers and surrounding communities near retail stations, through which 12,810 people were vaccinated.
Shell Pakistan continues its focus on driving competitive business plans to deliver top quartile business performance and play a key role in developing Pakistan’s energy future.