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 |
 |
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.