The profit of the Shell Pakistan Limited for the half year ended 30 June 2018 and have dropped by 31.43 % as the company reported after tax profits amounting to Rs 1,603.376 million compared to 2,338.364 million in profits reported last year on 30 June 2017.
The results were announced right after the company’s Board of Directors meeting held on August 16, 2018 at 10:00 am.
The company reported a 9.32% decrease in sales while other revenue also declined by 16.82% for the six month period. As a result, sales tax fell by 22.36%, causing the net revenue to fall by 6.38%.
The cost of products too witnessed a decline of 7.25%, resulting in an increase in gross profits of 7.15%.
Other expenses rose significantly, by 413.93%, leading to a fall in operating profit of 40.89%.
As a result, the company declared an EPS of Rs 14.98 for the six months ended in June 2018 as compared to Rs 21.85 a year ago, a decline of 31.44%.