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Shell Pakistan Profits up

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Posted by on Thursday, April 21, 2011, 13:20
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Shell Pakistan Ltd has posted a higher profit after tax of Rs 758.401 million during the quarter ending March 31, 2011 due to rising crude oil prices, exports and reduction in operating cost.

Shell Pakistan Profits up
Shell Pakistan Profits up

According to financial results reaching Karachi Stock Exchange (KSE) here Wednesday, the pre-tax profit of the company has also surged to Rs 1.277 billion compared to Rs 747.038 million in the same period last year.

The earning per share has also improved to Rs 11.07 in the quarter as against Rs 5.87 last year.

Shell said that though profits have improved in the quarter, the company continued to face problems on receivables side as Rs 6 billion are still outstanding against governemnt of Pakistan as price differential claims, sales tax and petroleum development levy.

Low margins for petrol and diesel have continuously reduced by the government over the recent periods at a time when oil prices and all costs have been on the increase.

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