Sui Northern Gas Pipelines Limited profits fall by 2.03 percent to Rs. 5.980 billion

MG News | April 30, 2018 at 12:30 PM GMT+05:00

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Sui Northern Gas Pipelines Limited (SNGPL) today announced financial results for the nine months period ending 31 March, 2018 reporting Sales at Rs. 294.050 billion; up 28.60 percent from same period last year. Furthermore, the company’s Gross Profit rose to Rs. 14.783 billion from Rs. 9.818 billion last year during the outgoing nine months.

On the expenses front, SNGPL reported 1.07 percent increase in Selling Cost, 27.57 percent increase in Administrative Expenses, whereas, Other Operating Expenses incurred by the company went up by 220.54 percent during the period.

Furthermore, SNGPL also reported a 10.491 percent incline in Other Operating Income reaching Rs. 14.783 billion during the nine months.

Sui Northern Gas Pipeline Limited reported profit after taxation at Rs. 5.980 billion against Rs. 6.104 billion during the same period last year translating into an EPS of Rs. 9.43 vs. an EPS of Rs. 9.63 during the nine months ending March, 2017.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Nine Months Ended, March 30^th 2018
Key Financials	March, 2018	March, 2017	% Change
	Amounts in PKR’ 000
Sales	294,050,183	228,653,219	28.60%
Add/(Less): Differential Margin/(Gas Development Surcharge)	43,758,049	4,461,706	880.75%
Less: Cost of Sales	323,025,044	214,372,893	50.68%
Gross Profit	14,783,188	9,818,620	50.56%
Add: Other Operating Income	10,491,304	11,218,232	-6.48%
Less: Operating Expenses
Selling Cost	3,702,667	3,663,535	1.07%
Administrative Expenses	4,947,904	3,878,550	27.57%
Other Operating Expenses	1,638,334	511,114	220.54%
Operating Profit	14,985,587	12,983,653	15.42%
Less: Finance Costs	6,393,637	4,240,103	50.79%
Profit before Taxation	8,591,950	8,743,550	-1.73%
Taxation	2,611,399	2,639,071	-1.05%
Profit for the Period	5,980,551	6,104,179	-2.03%
EPS - Basic and diluted	9.43	9.63	-2.08%

Company release on Earnings Report can be accessed here.

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