Wafi Energy reports Rs873m PAT for Q1 2025
KARACHI: Wafi Energy Pakistan Limited (formerly Shell Pakistan Limited) has reported a profit after tax of PKR 873 million for the first quarter ending March 31, 2025, compared to a profit after tax of PKR 314 million in the same period last year.
The Board of Directors of Wafi Energy Pakistan Limited (WEPL) announced the first quarter results for the company on Wednesday.
According to company announcement, it has maintained its market share despite ongoing challenges in the oil industry, including rising operational costs from changes to the sales tax regime and persistent illicit petroleum trade, demonstrating operational resilience and strong network controls.
In the Lubricants business, WEPL achieved growth in both the consumer (B2C) and industrial (B2B) segments. The company secured key strategic partnerships with Original Equipment Manufacturers (OEMs) such as Hyundai and Suzuki. Additionally, the B2B segment maintained its leadership in the mining sector.
In the Mobility segment, WEPL expanded its Shell-branded retail network, adding four new sites and upgrading three existing stations. Shell V-Power, the company's premium fuel, achieved its highest-ever quarterly volume, with an industry-leading penetration rate.
Copyright Business Recorder, 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Express Tribune
11 hours ago
- Express Tribune
Budget FY 2025-26: How to calculate your income tax?
The government of Pakistan has introduced a new income tax structure for 2026, easing the tax burden on salaried individuals. The revised rates provide reductions in monthly and annual taxes across low, middle, and high-income brackets compared to the 2025 regime. Key Points: Lowest income bracket (PKR 50,000/month): No tax in both 2025 and 2026. No change. PKR 100,000/month (Annual: PKR 1.2 million): Tax in 2025: PKR 30,000 annually Tax in 2026: PKR 6,000 annually Monthly saving: PKR 2,000 PKR 250,000/month (Annual: PKR 3 million): Tax in 2025: PKR 380,000 annually Tax in 2026: PKR 300,000 annually Monthly saving: PKR 6,667 PKR 500,000/month (Annual: PKR 6 million): Tax in 2025: PKR 1,365,000 annually Tax in 2026: PKR 1,281,000 annually Monthly saving: PKR 7,000 PKR 1 million/month (Annual: PKR 12 million): Tax in 2025: PKR 3,911,000 annually Tax in 2026: PKR 3,692,850 annually Monthly saving: PKR 18,209 Highest income bracket (PKR 3 million/month, Annual: PKR 36 million): Tax in 2025: PKR 13,051,500 annually Tax in 2026: PKR 12,848,850 annually Monthly saving: PKR 16,888 Across-the-board relief: Tax savings range from PKR 2,000 to PKR 16,888 per month, depending on income level. The revised 2026 income tax policy provides uniform relief to salaried taxpayers, reducing financial pressure in the face of persistent inflation. The cuts are expected to boost disposable income and ease the burden on Pakistan's middle and upper-middle class.
Business Recorder
13 hours ago
- Business Recorder
‘Disconnected from economic realities': think tank says budget could increase unemployment
The budget has failed to address critical challenges, particularly in the industrial sector which could increase unemployment and destabilize Pakistan's already fragile economic outlook, according to the Policy Research and Advisory Council (PRAC). In a statement published on Tuesday, PRAC Chairman Mohammad Younus Dagha acknowledged the budget's forward-thinking initiatives, including the Green Sukuk, which he said signals a positive shift toward sustainability and reflects the government's commitment to environmental concerns. Post-budget presser: Aurangzeb addresses key concerns He lauded the reduction of withholding taxes on property transactions by 1.5% across all tax brackets and the removal of the 7% Federal Excise Duty on property transfers as this is expected to stimulate the real estate and construction sectors. He also welcomed the tax relief for salaried individuals. However, he said the lack of an increase in the minimum tax threshold may not sufficiently ease the burden on the most vulnerable and heavily taxed segments. Moreover, he said the budget is relying on unrealistic revenue targets and growth projections, and is 'disconnected from economic realities.' He emphasized that the ambitious projections ignore prevailing macroeconomic constraints, which could lead to 'unachievable expectations and exacerbate the nation's fiscal challenges.' Budget is 'death knell' for IT industry: P@SHA He added that the budget also raised alarm over the country's fiscal health, particularly with regard to debt servicing, which is projected to consume 50.4% of the current expenditure and 74.1% of net federal revenues in FY26. 'This severely limits the resources available for developmental spending,' it said. It said the Federal Public Sector Development Program's reduction by 29%, from PKR 1,400 billion to PKR 1,000 billion for the upcoming fiscal year, 'will undermine crucial initiatives, slow job creation, and hinder long-term economic growth.' 'By slashing development spending, the government risks undermining long-term economic progress and stability,' said Dagha. 'The reduction in PSDP funding directly contradicts the need for investment in infrastructure, education, and healthcare.' PRAC also expressed concern over the lack of targeted support for the industrial sector, which it said has experienced a 1.5% decline during the first nine months of FY2025. Moreover, it said despite the widening trade deficit in services, the budget has failed to announce special incentives for Pakistan's thriving IT sector, missing an opportunity to leverage its potential for economic growth. Similarly, no export-oriented growth measures were introduced, 'a critical oversight in boosting foreign exchange earnings and strengthening the country's economic stability.' Meanwhile Dagha highlighted the insufficient allocation for Karachi, which now ranks as the fifth least livable city globally. 'With only PKR 3.2 billion allocated for the K-IV water supply project, a vital initiative to address the city's ongoing water crisis, the budget allocation is deemed inadequate,' the statement said, adding that several key projects under the Karachi Transformation Plan, announced in 2020, remain largely unaddressed. 'This was a rare opportunity to implement transformative reforms in critical areas such as education, healthcare, and infrastructure,' said Dagha. 'Regrettably, the budget largely missed the chance to enact meaningful reforms in these vital sectors.' PRAC has urged the government to reconsider the budget and introduce measures that can effectively address the economic realities of Pakistan. 'There is an urgent need for a more balanced approach that focuses on sustainable growth, fiscal responsibility, and targeted support for key sectors such as industry, technology, and social welfare,' it said.
Business Recorder
16 hours ago
- Business Recorder
World Bank projects 3.1pc GDP growth rate for Pakistan
ISLAMABAD: The World Bank has projected GDP growth rate for Pakistan at 3.1 per cent for the next fiscal year 2026 compared to the government's target of 4.2 per cent. The bank in its latest report, 'Global Economic Prospects', projected GDP growth rate at 2.7 per cent for the current fiscal year – down by 0.1 per cent from earlier projection of 2.8 per cent in January 2025. In Pakistan, growth is estimated to have inched up to 2.7 per cent in fiscal year 2024-25 (July 2024 to June 2025), from 2.5 per cent in the previous fiscal year, with modest expansions in both agricultural production and industrial output. In Pakistan, growth is expected to strengthen to 3.1 per cent in fiscal year 2025-26 and 3.4 per cent in fiscal year 2026-27. With inflation contained and borrowing costs declining, industrial and services activity is forecast to firm, and business confidence is anticipated to continue improving owing to reduced domestic policy uncertainty. However, projected growth will remain subdued, reflecting still-high—though easing—real interest rates and fiscal consolidation intended to mitigate vulnerabilities and rebuild policy buffers. In Pakistan, headline inflation fell below 2 per cent in early 2025, the report noted. Inflation in Pakistan is expected to increase amid strengthening demand, the report added. The report further noted that in Pakistan, an increase in the merchandise trade deficit in April largely reflected a sharp decline in exports, which was in part attributable to increases in U.S. import tariff rates in early April. Credit growth has increased in Pakistan and Sri Lanka, accompanied by recovering domestic demand and lower policy interest rates. Copyright Business Recorder, 2025
