SSGC earning per share rises to Rs8
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MG News | August 11, 2025 at 10:18 AM GMT+05:00
August 11, 2024 (MLN): Sui Southern Gas Company Limited
(PSX: SSGC) released its financial results for the
half-year ended December 31, 2024, reporting a profit after tax of Rs7.06bn, up
8.54% from Rs6.5bn in the corresponding period last year.
The company’s earnings per share (EPS) increased to Rs8.01
from Rs7.38 which showed an 8.5% YoY growth.
Revenue from contracts with customers surged by 38.2% YoY to
Rs244.09bn, compared to Rs176.60bn in 1HFY23.
Tariff adjustments, however, fell sharply by 65% to Rs19.75bn.
This resulted in a net revenue of Rs224.34bn, representing a 3.7% YoY decline.
The cost of revenue eased by 3.5% to Rs217.02bn, leading to
a gross profit of Rs7.32bn, down 9.9% from last year’s Rs8.13bn.
Administrative and selling expenses increased by 7.2%, while
other operating expenses fell 23.6%. Other income posted an 8% YoY increase,
reaching Rs13.54bn.
Operating profit stood at Rs14.27bn, down 10% YoY. Finance
costs inched up by 1.8% to Rs6.72bn, resulting in profit before levy and
taxation of Rs7.55bn, an 18.3% decline from last year.
The company’s taxation expenses dropped by 59.7% to Rs194.6m,
which supported the bottom-line growth.
|
Statement
for profit and loss of the half year ended on December 31, 2024 (Rs in '000') |
|||
|
Description |
1HF24 |
1HF23 |
change
% |
|
Revenue
from Contracts with Customers - Gas Sales |
244,091,531 |
176,603,152 |
38.2% |
|
(Less)/Add:
Tariff adjustments |
(19,746,570) |
(56,401,610) |
-65.0% |
|
Net
revenue |
224,344,961 |
233,004,762 |
-3.7% |
|
Cost of
revenue |
(217,022,469) |
(224,874,668) |
-3.5% |
|
Gross
profit |
7,322,492 |
8,130,094 |
-9.9% |
|
Administrative
and selling expenses |
(3,709,240) |
(3,461,582) |
7.2% |
|
Other
operating expenses |
(497,673) |
(651,753) |
-23.6% |
|
Allowance
for expected credit loss |
(2,383,832) |
(707,168) |
237.1% |
|
Other
income |
13,541,867 |
12,544,143 |
8.0% |
|
Operating
profit |
14,273,614 |
15,853,734 |
-10.0% |
|
Finance
cost |
(6,719,317) |
(6,603,455) |
1.8% |
|
Profit
before levy and taxation |
7,554,297 |
9,250,279 |
-18.3% |
|
Levy |
- |
- |
|
|
Minimum
tax differential |
(301,408) |
(2,262,322) |
-86.7% |
|
Final
tax |
(2,966) |
(392) |
656.6% |
|
Profit
before taxation |
7,249,923 |
6,987,565 |
3.8% |
|
Taxation |
(194,639) |
(483,245) |
-59.7% |
|
Profit
for the period |
7,055,284 |
6,504,320 |
8.5% |
|
Earnings
per share - basic and diluted |
8.01 |
7.38 |
8.5% |
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