SSGC takes a massive leap from previous year's losses, earns Rs1.3bln in FY17

MG News | January 07, 2019 at 03:37 PM GMT+05:00

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January 7, 2019 (MLN): Sui Southern Gas Company Limited has reported bottom-line earnings of Rs. 1.3 billion for the year ended 30^th June 2017, taking a massive leap from losses made in the previous year ending 30^th June, 2016.

The recuperation of gains was a result of immense increase in company’s other operating income, combined with a decrease in other non-operating expense.

Reduction in Finance cost also played a role in pulling the Company out of deep pit of losses.

The Company ultimately reported Earnings per share at Rs. 1.52 for the year ended 30^th June 2017.

Profit and loss account for the year ended June 30th 2018 (Rupees’000)
	Jun-17	Jun-16	% Change
Sales-net	156,673,275	138,616,102	13.03%
Cost of goods sold	-157,512,161	-163,440,128	-3.63%
Gross Profit	-838,886	-24,824,026	-96.62%
Administration and selling expenses	-4,311,328	-3,840,688	12.25%
Other operating expenses	-3,293,096	-2,355,905	39.78%
Operating profit	15,023,058	18,127,953	-17.13%
Other operating income	6,555,113	2,694,871	143.24%
Other non-operating expenses	-6,896,466	-23,104,574	-70.15%
Finance cost	-1,692,477	-2,618,390	-35.36%
Profit before taxation	3,315,792	-7,839,564
Taxation	-1,979,962	1,724,611
Profit after taxation	1,335,830	-6,114,953
Earnings per share (Rupees)	1.52	-6.94

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