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

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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Posted on: 2019-01-07T15:37:00+05:00

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