Sui Northern Gas Pipelines Ltd. post profits worth Rupees 3.859 billion
MG News | February 26, 2018 at 02:28 PM GMT+05:00
Sui Northern Gas Pipelines today announced financial results for the half year ending December 31st, 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.
| 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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