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.
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.
