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.Â
|
Unconsolidated Profit and Loss Account – For the Year Ended, December 2017 |
|||
|---|---|---|---|
|
Key Financials |
2017 |
2016 |
% Change |
| Â |
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.
