SSGC profit drops 26% to Rs2.5bn in FY26
- The company did not announce a cash dividend during the period
Amid lower revenue, Sui Southern Gas Company Limited (SSGC) saw its profit decline by over 26% to Rs2.54 billion in the year ended June 30, 2026.
The company registered a profit of Rs3.44 billion in the same period of the previous year, according to its consolidated financial statements, released to the Pakistan Stock Exchange (PSX) on Thursday.
Consequently, earnings per share (EPS) decreased to Rs2.89 per share in the period under review compared to Rs3.91 per share in the same period last year (SPLY).
On a consolidated basis, the company’s revenue from contracts with customers - gas sales - net decreased by 16% to Rs378.12 billion in FY26, compared to Rs450.70 billion recorded in the previous year.
After a tariff adjustment of Rs8.67 billion in FY26, compared to Rs4.26 billion in SPLY, net revenue stood at Rs369.46 billion, down 17% from Rs446.44 billion last year.
The company’s cost of gas sales declined nearly 17% to Rs361.36 billion in FY26, compared to Rs434.10 billion in SPLY.
As a result, gross profit decreased by 34% to Rs8.10 billion in FY26.
Meanwhile, the company’s operating expenses decreased to Rs14.40 billion in FY26, compared to Rs16.46 billion in SPLY.
On the other hand, the company’s other operating income increased by nearly 9% to Rs26.78 billion in FY26, compared to Rs24.63 billion in SPLY.
As a result, profit from operations clocked in at Rs20.48 billion in FY26, nearly flat compared to Rs20.51 billion in SPLY.
SSGC saw its finance cost increase to Rs14.27 billion in FY26, from Rs12.15 billion in SPLY.
The company’s profit before levy and taxation stood at Rs6.21 billion, down 26%.
The gas utility paid Rs2.85 billion in levy, including minimum tax differential, in FY26, compared to Rs4.41 billion in SPLY.
Profit before taxation stood at Rs3.36 billion, down from Rs3.95 billion in FY25.
SSGC paid Rs817.44 million in taxes in FY26, up 61% from Rs507.49 million last year.