Shell Pakistan Limited reported a profit of Rs1.13 billion for the three-month period ending June 30 2024

This result, announced on Monday, marks a significant drop from the Rs8.3 billion profit recorded in the same period last year, reflecting a year-on-year decline of over 86%.

As a result, Shell Pakistan’s earnings per share (EPS) stood at Rs4.69, a sharp decrease from Rs38.79 in the previous year.

Following a loss-making 2022, Shell Pakistan achieved a Rs6.2 billion profit in 2023.

In a notice to the Pakistan Stock Exchange (PSX) on Monday, it was revealed that Shell Pakistan’s net revenue for the quarter ending June 30, 2024, increased to Rs112.45 billion from Rs103.46 billion in the previous year, showing a nearly 9% rise.

Despite the higher revenue, the company’s gross profit fell by nearly 1%, reaching Rs5.95 billion in 4QFY24 compared to Rs5.99 billion in the same period last year, due to a more than 10% increase in the cost of products.