Royal Dutch Shell plc (RDS) has reported 630.99 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $3.54 million, or $0.43 a share in the quarter, compared with $0.48 million, or $0.07 a share for the same period last year. Revenue during the quarter surged 47.41 percent to $73.31 million from $49.73 million in the previous year period. Operating margin for the quarter period stood at positive 6.11 percent as compared to a negative 0.55 percent for the previous year period.
Operating income for the quarter was $4.48 million, compared with an operating loss of $0.27 million in the previous year period.
Royal Dutch Shell Chief Executive Officer Ben van Beurden commented: “The first quarter 2017 was a strong quarter for Shell. Cash flow from operating activities of $9.5 billion and free cash flow of $5.2 billion enabled us to reduce debt, and cover our cash dividend for the third consecutive quarter. We saw notable improvements in Upstream and Chemicals, which benefited from improved operational performance and better market conditions. Our operations in Qatar are restarting during the second quarter.
Operating cash flow improves significantly
Royal Dutch Shell plc has generated cash of $9.51 million from operating activities during the quarter, up 1,338.43 percent or $8.85 million, when compared with the last year period. The company has spent $4.32 million cash to meet investing activities during the quarter as against cash outgo of $16.92 million in the last year period.
The company has spent $4.84 million cash to carry out financing activities during the quarter as against cash outgo of $3.24 million in the last year period.
Cash and cash equivalents stood at $19.60 million as on Mar. 31, 2017, up 77.83 percent or $8.58 million from $11.02 million on Mar. 31, 2016.
Debt moves up
Royal Dutch Shell plc has witnessed an increase in total debt over the last one year. It stood at $91.63 million as on Mar. 31, 2017, up 13.30 percent or $10.76 million from $80.87 million on Mar. 31, 2016.
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