Sui Northern Gas Pipelines sees around 80% profit surge

MG News | April 28, 2025 at 12:15 PM GMT+05:00

0:00

April 28, 2025 (MLN): Sui Northern Gas Pipelines Limited (PSX: SNGP) posted robust financial results for the fiscal year ended March 31, 2025, reporting a remarkable 79.65% increase in profit, which reached Rs18.98 billion compared to Rs10.56bn in the previous year.

The company’s earnings per share (EPS) also saw a significant increase of 79.60%, reaching Rs29.92, up from Rs16.66 in FY2024.

Additionally, SNGP declared a final cash dividend of Rs7.50 per share, representing 75% for the year.

The company’s total revenue grew by 12.24%, amounting to Rs1.53 trillion, up from Rs1.37tr in FY2024.

This growth was driven by a strong performance in gas sales, which saw an increase of 27.11%, reaching Rs1.37tr.

Despite a significant 44.34% decline in tariff adjustments, the rise in gas sales revenue played a crucial role in boosting overall income.

Gross profit for the year surged by 29.96%, standing at Rs44.41bn, up from Rs34.17bn in FY2024.

This increase was largely due to better revenue performance and a reduction in other expenses, which saw a sharp 55.40% decline.

Other income also saw a strong rise of 50.59%, reaching Rs54.64bn, reflecting the company’s effective cost management and diversification.

Operating profit for the year grew significantly by 57.84%, totaling Rs67.88bn, compared to Rs43.01bn in FY2024.

Despite an increase in finance costs by 39.68% to Rs 38.04bn, the company’s profitability remained strong due to improved operational efficiency and higher revenue from core operations.

Profit before income tax showed a remarkable growth of 100.83%, totaling Rs21.81bn, compared to Rs10.86bn in FY2024.

The company also faced a significant rise in income tax, which increased by 845.08% to Rs2.84bn, reflecting the sharp increase in profitability.

Financial Results for the year ended March 31, 2025 (Rs '000)
	Mar-25	Mar-24	Change (%)
Revenue from contracts with customers - gas sales	1,374,724,442	1,081,530,239	27.11%
Tariff adjustment	158,186,777	284,228,549	-44.34%
Total Revenue	1,532,911,219	1,365,758,788	12.24%
Cost of gas sales	1,488,496,758	1,331,585,491	11.79%
Gross profit	44,414,461	34,173,297	29.96%
Other income	54,643,106	36,287,769	50.59%
Total Revenue + Income	99,057,567	70,461,066	40.59%
Selling costs	11,396,679	9,526,779	19.63%
Administrative expenses	11,956,573	9,931,157	20.39%
Take or pay adjustment relating to prior periods	1,079,490
Other expenses	2,686,234	6,021,539	-55.40%
Net impairment loss on financial assets	4,053,847	1,973,461	105.41%
Total Operating Expenses	31,172,823	27,452,936	13.55%
Operating profit	67,884,744	43,008,130	57.84%
Finance cost	38,041,446	27,235,985	39.68%
Profit before minimum tax and income tax	29,843,298	15,772,145	89.20%
Minimum tax differential (levy)	8,030,357	4,908,258	63.62%
Profit before income tax	21,812,941	10,863,887	100.83%
Income tax	2,836,401	300,183	845.08%
Profit for the year	18,976,540	10,563,704	79.65%
Earnings per share - basic and diluted (Rupees)	29.92	16.66	79.60%

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