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