KARACHI: Wafi Energy Pakistan Limited (WEPL) reported a profit after tax of Rs2,164 million, compared with Rs873 million in the same period last year, marking a 148 per cent increase.
In a statement on Thursday, the company said it continued to expand its retail footprint, adding 18 new Shell retail sites, six new Shell Select convenience stores and upgrading six existing Shell stations. During the quarter, growth in the lubricants business was broad-based, supported by expansion in the OEM and mining segments, increased demand for process oils and continued strength in fleet channels. The company also signed a partnership with Indus Motor Company (IMC), marking its entry into the Toyota aftermarket lubricants segment in Pakistan.
Commenting on the performance, Chief Executive Officer Zubair Shaikh said: “This has been a quarter shaped by external volatility and geopolitical challenges. Our focus has been to preserve energy security, maintain steady supply, expand the network, and continue investing in areas that matter for Pakistan’s needs.”
