SNGPL earns over Rs 1b in profits | Pakistan Today

SNGPL earns over Rs 1b in profits

SNGPL earned over Rs 1 billion in profits as compared to Rs 415 million in the corresponding period last year. As a result of the increased earnings, the earnings per share of the company increased to Rs 1.76 as against Rs 0.72 in the same period last year. The board of directors of the company approved the un-audited report for the third quarter that ended on March 31, 2012 during a meeting held here. The gas sales of the company, in terms of the volume, during the period were 444,908 MMCF as against 440,145 MMCF during the same period last year. The sales in terms of rupees have increased from Rs 140,391 million to Rs 156,505 million. On a quarterly basis, the company has earned an after tax profit of Rs 366 million translating into earnings per share of Rs 0.64. During the third quarter, due to weather conditions, gas load management and shifting of gas supply from bulk to the domestic sector, the company observed a slight increase in UFG losses as compared to the half year accounts of the current financial year. However, the management and board of the company are not complacent and concerted efforts are being made to reduce these losses. The overall increase in profit and subsequent increase in earnings per share is the reflection of determined efforts of the company’s management and staff members who put in their best endeavours.

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