Pilipinas Shell Petroleum Corp. (PSPC) booked a more than 200 percent increase in net income in the first quarter of the year to P3.53 billion compared with P1.02 billion in the same period last year.
The company said the performance was helped by the high fuel premium penetration of 29 percent, sustaining the strong position of its Shell V-power brand as the most preferred fuel brand in the country.
PSPC’s revenues for the period jumped by almost 48 percent to P59.07 billion from 2021’s P39.92 billion.
“Pilipinas Shell remains steadfast and committed to our strategy of powering progress for the country, especially as opportunities are opening with a recovering economy. Customer-centricity, innovation, agility, and our initiatives for sustainable energy are all designed to meet our expanding customers’ current and future needs with the resurgence of safe mobility,” said Lorelie Quiambao-Osial, PSPC president and chief executive officer, in a statement.
