SNGPL Posts Rs. 10.7 Billion Profit for 9 Months of FY24

Sui Northern Gas Pipelines Limited (SNGPL) has announced its financial results for the nine months ended March 31, 2024 (9MFY24), whereby it posted a profit after tax of Rs. 10.7 billion, up 28 percent compared to Rs. 8.4 billion in the same period last year. In January-March FY24, the company posted a profit of Rs. 3.7 billion, up 62 percent compared to Rs. 2.28 billion in 3QFY24. The company didn’t announce any dividend payouts to its shareholders for the period in review. Net gas sales surged to Rs. 989 billion, up 28.5 percent compared to Rs. 770 billion in SPLY. Gross profit nearly doubled to Rs. 137 billion while other income came in at Rs. 168 billion, up 69 percent compared to Rs. 99 billion in the period ended March 2023. The finance cost of the company increased by 97 percent to Rs. 131 billion while administrative expenses surged to Rs. 7.99 billion during the period in review. The company’s net impairment loss on financial assets reduced by 4 percent to Rs. 18.4 billion. SNGPL paid Rs. 8.2 billion in taxes during the period in review. The company posted earnings per share of Rs. 16.91 for 9 months and an EPS of Rs. 5.83 for the quarter ended March 31.