SSGC FY26 profit drops 26% to Rs2.5bn

November 05, 2026 (MLN): Consolidated profit for the year of Sui Southern Gas Company Limited (PSX: SSGC) fell 26.14% year-on-year to Rs2.54bn for the year ended June 30, 2026 (FY26), compared with Rs3.44bn in FY25.

Basic and diluted earnings per share (EPS) declined 26.09% to Rs2.89 from Rs3.91 in the preceding year.

The decline came from a 34% drop in gross profit, a 17% rise in finance cost and a 61% heavier tax charge. Higher other operating income, lower other operating expenses and smaller minimum tax and final tax charges partly cushioned the impact.

Net revenue from gas sales fell 16.10% to Rs378.12bn from Rs450.70bn. Tariff adjustment doubled, up 103.63% to Rs8.67bn from Rs4.26bn. Cost of gas sales declined 16.76% to Rs361.36bn from Rs434.10bn, which pulled gross profit down 34.35% to Rs8.10bn from Rs12.34bn.

Administrative and selling expenses increased 14.77% to Rs8.70bn from Rs7.58bn, while other operating expenses plunged 76.93% to Rs730.53m from Rs3.17bn. The allowance for expected credit loss fell 13.01% to Rs4.97bn from Rs5.72bn. Other operating income rose 8.72% to Rs26.78bn from Rs24.63bn.

As a result, operating profit was almost flat, edging down 0.15% to Rs20.48bn from Rs20.51bn.

Finance cost rose 17.46% to Rs14.27bn from Rs12.15bn, which took profit before levy and taxation down 25.75% to Rs6.21bn from Rs8.36bn.

Minimum tax differential fell 35.41% to Rs2.84bn from Rs4.40bn, and final tax declined 63.37% to Rs2.2m from Rs6.1m. Total levies dropped 35.45% to Rs2.85bn from Rs4.41bn, but profit before taxation still declined 14.93% to Rs3.36bn from Rs3.95bn.

Taxation rose 61.08% to Rs817.44m from Rs507.49m, which deepened the bottom-line decline and left profit for the year at Rs2.54bn.

Copyright Mettis Link News