logo
Wafi Energy reports Rs873m PAT for Q1 2025

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

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

July-March 2025: LSM experiences 1.5% negative growth
July-March 2025: LSM experiences 1.5% negative growth

Business Recorder

time10 hours ago

  • Business Recorder

July-March 2025: LSM experiences 1.5% negative growth

ISLAMABAD: Large-Scale Manufacturing (LSM) has experienced a negative growth of 1.5 percent during July-March 2025 in contrast to a slight decline of 0.22 percent observed in the corresponding period of the previous year. Within manufacturing, LSM plays a dominant role, accounting for 67.5 percent of the manufacturing sector and 8.0 percent of GDP, followed by Small-Scale Manufacturing (SSM) and Slaughtering, which contribute 2.4 percent and 1.4 percent to GDP, respectively, according to Pakistan Economic Survey 2024-25. The quarterly pattern highlights continued challenges in LSM, which has consistently weighed down industrial performance in the outgoing fiscal year. Gradual recovery likely in LSM sector, says FD Overall manufacturing growth slowed to 1.3 percent in FY 2025, compared to 3.0 percent last year. This deceleration was primarily driven by a contraction of 1.5 percent in LSM, compared to a modest growth of 0.9 percent in the previous year. In contrast, SSM and Slaughtering grew by 8.8 percent and 6.3 percent, respectively, providing some support to the sector. This marks the third consecutive year of negative growth in LSM, which can be attributed to ongoing structural challenges, elevated input costs, and downturns in critical sectors such as Food, Chemicals, Iron & Steel, and Electrical Equipment. Despite the overall lacklustre performance, nearly half of the LSM sectors demonstrated positive growth, including significant industries such as Wearing Apparel, Textiles, Coke & Petroleum Products, Pharmaceuticals, and Automobiles, according to the survey. However, in March 2025, the growth of LSM registered a Year-on-Year (YoY) increase of 1.8 percent, in contrast to a growth rate of 1.7 percent during the same month in the previous year. On a Month-on-Month (MoM) basis, LSM experienced a decline of 4.6 percent in March2025, following a drop of 5.6 percent in February 2025. The LSM, based on the Quantum Index of Manufacturing (QIM), declined by 1.53 percent during current fiscal 2025, compared to a growth of 0.94 percent last year. The slowdown reflects mixed performance across key industries - declines were observed in chemicals (-5.51%), iron and steel (-10.94%), electrical equipment (-15.89%), and fabricated metal products (-17.16%), while strong growth was recorded in automobiles (40.0%), wearing apparel (7.62%), textiles (2.15%), and petroleum products (4.48%) High input costs, and elevated tax rates, continued to pose headwinds to LSM growth. Copyright Business Recorder, 2025

CM directs registration of non-registered restaurants, marriage halls
CM directs registration of non-registered restaurants, marriage halls

Business Recorder

time14 hours ago

  • Business Recorder

CM directs registration of non-registered restaurants, marriage halls

LAHORE: A decision has been made to immediately register unregistered restaurants and marriage halls in Punjab. Chief Minister Punjab Maryam Nawaz Sharif has directed to take prompt measures for the registration of all small and large restaurants as well as marriage halls across the province. The Chief Minister while chairing a special meeting approved the decision for the registration of all restaurants and marriage halls across Punjab. The Chief Minister rejected all proposals to enhance taxes. She directed the relevant institutions to expand the tax net instead of merely increasing the tax rate. She asserted, 'Increasing taxes to place unnecessary burden on the public will not be permitted and tolerated at any cost. The owners of restaurants and marriage halls who get themselves registered should not be punished while the tax evaders should not be allowed to go scot-free under any circumstance.' The Chief Minister emphasized that the government does not want to place any sort of financial burden on the common man. She highlighted, 'A person earning Rs200,000 pays tax regularly, while those earning millions do not pay any tax and wilfully indulge into tax evasion.' She also directed the Punjab Revenue Authority, Mines & Minerals, and other government departments to explore new measures to generate as well as enhance revenue in the province. Copyright Business Recorder, 2025

Tola highlights importance of home-grown ‘Green Pakistan'
Tola highlights importance of home-grown ‘Green Pakistan'

Business Recorder

time14 hours ago

  • Business Recorder

Tola highlights importance of home-grown ‘Green Pakistan'

LAHORE: Leading economist Ashfaq Yousuf Tola has stressed on policymakers to choose between home-grown recipe of Green Pakistan and IMF policies for growth. The home-grown Green Pakistan, he said, includes keeping policy rates closer to inflation rate; reduce debt servicing; and maintain the currency at its true value; stimulating growth; reduce fiscal deficit, and IMF policies focus on monetary tightening; import led growth, and tariff reduction. To achieve sustainable growth, he said, we must prioritise policies that foster robust economic expansion. These policies include achieving an export surplus by focusing on our key cash crops: rice, wheat, and cotton. Tola said Pakistan can reduce its cotton imports by enhancing cotton yields besides increasing rice exports. Furthermore, said Tola, the FY26 economic strategy must prioritise on introducing targeted policy measures for industrial development. These include rationalising interest rates for industrial borrowers, electricity tariff reduction, abolishment of export financing scheme (EFS) on semi-finished and finished goods, implementing a balanced tariff structure on raw materials, duty free on intermediate goods and fostering export-oriented industrial clusters. In parallel, he said, advancing the IT sector must be a strategic focus. It is imperative to address the growing trend of IT businesses operating via digital platforms under foreign identities, which leads to foreign exchange losses. Copyright Business Recorder, 2025

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store