Sui Northern Gas Pipelines Ltd. post profits worth Rupees 3.859 billion

By MG News | February 26, 2018 at 02:28 PM GMT+05:00

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Sui Northern Gas Pipelines today announced financial results for the half year ending December 31^st, 2018. The gas giant reported profits worth Rupees 3.859 billion, up by 7.11% during the year. The gas sales at the company also reported an upward trend after posting total sales at Rupees 178.792 billion.

On the expenses front, the company reported a surge of 212% in other operating expenses which clocked in at 977 million for the period under review.

SNGPL posted a net profit after taxation at Rupees 3.859 billion, up 7.11% against a tally of rupees 3.603 billion during the second half of 2016.

The company reported an EPS of Rs. 6.08 vs. an EPS of Rs. 5.68 during year ending December, 2016.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Year Ended, December 2017
Key Financials	2017	2016	% Change
	Amounts in PKR ‘000
Gas Sales	178,792,815	151,945,335	17.67%
Add/Less: Differential Margin/(Gas development surcharge)	25,730,073	367,941	6892.99%
Less: Cost of Sales	193,813,316	145,594,380	33.12%
Gross Profit	10,709,572	6,718,896	59.39%
Other Income	5,483,794	6,650,683	-17.55%
Selling Cost	2,364,961	2,398,729	-1.41%
Administrative Expenses	3,225,060	2,511,686	28.40%
Other Operating Expenses	977,460	312,953	212.33%
Operating Profit	9,625,885	8,146,211	18.16%
Finance Costs	4,064,216	2,975,559	36.59%
Profit before Taxation	5,561,669	5,170,652	7.56%
Taxation	1,702,482	1,567,647	8.60%
Profit after Taxation	3,859,187	3,603,005	7.11%
EPS - Basic and diluted	6.08	5.68	7.04%

Company release on Earnings Report can be accessed here.

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