On October 18th, 2023, the Board of Directors of Shell Pakistan Limited (SPL) announced its financial results for the nine months ended September 30, 2023.
The company reported a profit after tax of PKR 6,450 million for this period, a significant increase from the profit after tax of PKR 2,864 million in the same period the previous year.
In addition to the financial results, an interim cash dividend for the quarter and nine months ended September 30, 2023, was declared. The company’s performance was positively impacted by a one-off technical service fee relief received from Shell International Petroleum Company. SPL maintains its focus on business performance, the safety of its personnel, and environmental protection as core priorities.
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The Oil and Gas Regulatory Authority (OGRA) recognized SPL’s efforts in promoting refueling safety, particularly among two and three-wheelers. SPL pioneered this initiative, and its mobility business introduced 19 new retail sites during this period. The company also initiated a Voice of Customer program, enabling real-time feedback from customers through QR codes placed at sites, resulting in over 30,000 responses that provide valuable insights for continuous improvement.
SPL also undertook environmentally responsible initiatives, including recycling discarded Shell lubricant bottles to construct a plastic-infused road, benefiting the community in Karachi. Additionally, the company collaborated with Shell Tameer alumni, Concept Loop, a tech-based startup, to convert plastic waste into building materials, which were deployed at a Shell retail site in Karachi. This initiative has the potential to be replicated at other retail sites undergoing renovation and construction.
Furthermore, SPL worked with local farmers in partnership with the National Rural Support Programme (NRSP) to transform agricultural waste into valuable biochar. This sustainable solution significantly improved soil health and land yield by 50%, showcasing the potential of biochar technology to reduce emissions associated with agricultural waste burning.
SPL reaffirms its commitment to operational excellence, safety performance, financial strength, and its role in contributing to a responsible and sustainable society.
