SSGC sees minor earnings drop in nine months FY25

September 04, 2025 (MLN): Sui Southern Gas Company Limited (PSX: SSGC) reported a net profit of Rs7.49 billion for the nine months ended March 31, 2025, reflecting a 4.20% decline from Rs7.82bn in the same period last year.

Earnings per share stood at Rs8.5, compared to Rs8.88 previously, down 4.28%.

Revenue from contracts with customers in the gas segment rose 19.36% to Rs347.5bn, compared to Rs291.12bn last year.

However, tariff adjustments dropped sharply to Rs0.45bn from Rs56.01bn, limiting overall gains.

As a result, net revenue increased only marginally by 0.23% to Rs347.95bn.

Cost of revenue was largely stable at Rs339.9bn, showing a slight rise of 0.13%.

This translated into a gross profit of Rs8.04bn, up 4.74% from Rs7.68bn.

Administrative and selling expenses increased 3.50% to Rs5.47bn, while other operating expenses declined 5.38% to Rs0.99bn.

The company booked a higher allowance for expected credit losses at Rs3.1bn, compared to Rs1.28bn last year, raising overall operating expenses by 25.61%.

Consequently, it recorded a loss from operations of Rs1.52bn, versus a profit of Rs0.06bn in the same period last year.

Other income declined 12.24% to Rs19bn from Rs21.65bn, bringing operating profit down by 19.52% to Rs17.48bn.

Finance costs fell 9.43% to Rs8.91bn, providing some relief.

Accordingly, profit before levy and taxation dropped 27.88% to Rs8.56bn, from Rs11.87bn previously.

The minimum tax differential contracted 75.84% to Rs0.77bn, while final tax rose more than four times to Rs3.16m.

Overall levy and taxation charges decreased 75.75% to Rs0.77bn.

Profit before taxation slipped 10.19% to Rs7.79bn, compared to Rs8.67bn last year.

Taxation expenses declined 65.45% to Rs0.29bn, which helped cushion the bottom line.

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