Shell Pakistan profit up 70pc

Shell Pakistan profit increased 70 percent to Rs570 million in the quarter ended September 30, 2019, compared to the profit of Rs334 million made in the same period last year.

Shell Pakistan continued its focus on its strategic priorities and operational excellence in the quarter through macro-economic challenges in the country, a statement issued by the company said.

However, the overall financials for the nine months ended September 30, 2019, still present a challenging situation for the company; driven primarily by the unprecedented devaluation of the rupee, the volatility in the international oil prices and increased minimum tax rates applicable on the company.