Sui Northern Gas Pipelines Limited (SNGPL) has announced its financial results for the nine months ending March 31, 2024 (9MFY24), reporting a profit after tax of Rs. 10.7 billion. This marks a 28% increase compared to the Rs. 8.4 billion profit recorded during the same period last year.
For the January-March quarter of FY24, SNGPL posted a profit of Rs. 3.7 billion, representing a 62% rise from the Rs. 2.28 billion profit in the third quarter of FY23. Despite the strong financial performance, the company did not announce any dividend payouts to its shareholders for the period under review.
Net gas sales surged to Rs. 989 billion, reflecting a 28.5% increase from Rs. 770 billion in the same period last year. The company’s gross profit nearly doubled to Rs. 137 billion, while other income rose by 69% to Rs. 168 billion, up from Rs. 99 billion in the period ending March 2023.
However, the finance cost of the company increased significantly by 97% to Rs. 131 billion, and administrative expenses rose to Rs. 7.99 billion during the period under review. On a positive note, the company’s net impairment loss on financial assets decreased by 4% to Rs. 18.4 billion.
SNGPL paid Rs. 8.2 billion in taxes during this period. The company reported earnings per share (EPS) of Rs. 16.91 for the nine months and an EPS of Rs. 5.83 for the quarter ending March 31.
