By Jawad Ahmed

ISLAMABAD, Aug 17 (INP-WealthPK): The net sales of the oil and gas marketing company – Shell Pakistan Limited – increased by 39.6% to Rs84.522 billion in the first quarter (January-March) of the calendar year 2022 compared to Rs60.533 billion in the same period of 2021, reports WealthPK.

The company, which is a subsidiary of Shell Petroleum Company Limited, the United Kingdom, reported a gross profit of Rs9.353 billion during the first quarter of this year as opposed to Rs3.989 billion during the same period last year, showing a growth of 134.47%.

The company posted Rs3.030 billion in profit-before-tax during the first quarter of 2022 compared to Rs2.161 billion in the same period of the last year at growth rate of 40.21%.

After statutory tax adjustments, the net profit recorded at Rs2.079 billion compared to Rs1.948 billion during the two comparable periods.                                                                                                                                                

Performance over the years

In 2018, the company achieved net sales of Rs186.204 billion compared to Rs168.848 billion the previous year, up 10.3%.

The gross profit during the year increased 3.7% to Rs15.424 billion from Rs14.876 billion the previous year.

Loss-after-tax reached to Rs1.102 billion from a profit of Rs3.183 billion, which pushed loss per share to Rs10.3 from earnings per share of Rs29.74 previously

In 2019, the company’s revenue further increased to Rs199.719 billion compared to Rs186.204 billion the previous year, showing a growth of 7.26%.

Gross profit, however, decreased from Rs15.424 billion to Rs15.097 billion. The company also sustained loss-after-tax of Rs1.486 billion as against loss of Rs1.102 billion the previous year. This resulted in loss per share of Rs13.88 compared to loss of Rs10.3 the previous year.

Credit: Independent News Pakistan-WealthPK