Inquirer
MANILA, Philippines – Shell Pilipinas Corp. significantly gained from the spike in pump prices triggered by the Middle East war, resulting in a more than twofold increase in its first-quarter profit. The group, one of the country’s major oil firms, saw its net income soar by 117.5 percent to P1.61 billion from P743 million in the same period last year. READ: Shell Pilipinas posts double-digit income growth However, core profit, or net earnings excluding inventory holding gains and other one-off items, dropped by 87.6 percent to P107.8 million from P871.4 million. Net sales climbed by 9 percent to P63.29 billion from […]... Keep on reading: High pump prices fuel Shell Pilipinas Q1 income to P1.61B
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