Sui Northern Gas Pipelines Limited reported a profit-after-tax of Rs10.56 billion during the financial year ending June 30, 2023, an increase of nearly 2%, as compared to Rs10.37 billion recorded in same period last year (SPLY).
As per the listed company’s financial statements released to the Pakistan Stock Exchange (PSX) on Friday, SNGPL posted an Earnings per Share (EPS) of Rs16.66 as compared to Rs16.34 in SPLY.
The company also proposed a final cash dividend of Rs4.5 or 45% in FY23.
During FY23, the company posted Rs1.081 trillion in revenue from contracts with customers, an improvement of 0.5% YoY.
SNGP posted a gross profit of Rs127.46 billion, a significant jump of 49%, as compared to Rs85.52 billion registered in FY22.
During the period, SNGPL’s other operating income inched up to Rs36.29 billion, an increase of over 69% in the same period last fiscal.
On the other hand, SNGPL saw its operating income reduce to Rs27.45 billion in FY23, as compared to Rs34.17 billion in FY22.
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Consequently, SNGPL’s operating profit clocked in at Rs136.29 billion in FY23, an increase of over 87%, as compared to Rs72.8 billion in FY22.
However, the company saw its finance cost ballooned to Rs120.52 billion in FY23, a massive jump of over 110% YoY. The increase in cos of finance is attributed to high interest rate during the period.
Quarterly results
As per the financial results for the quarter ended September 30, 2023, which were also announced on Friday, SNGPL posted a PAT of Rs3.7 billion, as compared to Rs2.58 billion in SPLY, an increase of nearly 44%.
During the period, the company recorded an EPS of Rs5.84 per share.
Sui Northern Gas Pipelines Limited is a public limited company incorporated in Pakistan under the Companies Act, 1913 (now Companies Act, 2017). The principal activity of the company is the purchase, transmission, distribution and supply of natural gas.
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