October 19, 2022 (MLN): Shell Pakistan Limited (SHEL) has disclosed the results for the nine months ended September 2022 wherein the company’s profits swelled by 17.02% YoY to Rs2.86 billion as compared to Rs2.45bn profits in the corresponding period of last year.
Alongside the results, the company also announced a cash dividend for nine months ended September 2022 at the rate of Rs3 per share which is 30%.
Going by the company’s financial statement sent to PSX today, the net revenue of the company surged by 79.17% YoY to clock in at Rs303bn, against Rs169bn in the same period of last year (SPLY).
Subsequently, the gross profits of the company reached Rs33.16bn during the period under review as compared to Rs15.29bn in the SPLY.
On the expense side, the company saw almost an 89.18% YoY rise in distribution and marketing costs while the administrative expenses of the company inched up by 20.25% YoY in 9MCY22 which shows a meager increment in the salaries side.
In addition, other expenses of the company substantially also jumped by 435.83% to stand at Rs12.32bn as compared to Rs2.30bn in SPLY.
Further, the company reported a 63.51% YoY increase in finance costs that clocked in at Rs1.04bn in 9MCY22.
In addition, the company also paid the taxes of Rs2.75bn during the period, 192.12% higher than Rs942 million paid last year.
Copyright Mettis Link News
Posted on:2022-10-19T16:11:17+05:00
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