Hifsa Raja

Sui Northern Gas Pipelines Limited (SNGPL) revenue climbed 84% to Rs260 billion in the three months (July-Sept) ending on September 30, 2021, compared with Rs141 billion in the corresponding period of the previous year. The gross profit was Rs12.48 billion on September 30, 2021, compared to Rs11.19 billion on September 30, 2020.

The operating profit was Rs14.65 billion on September 30, 2021, compared to Rs13.39 billion on September 31, 2020. Similarly, profit before taxation in FY21 reached Rs4.26 billion from Rs4.47 billion in FY20. The profit after taxation was Rs3.03 billion in FY21 compared with Rs3.18 billion last year. The earnings per share was Rs4.78 in FY21 compared with Rs5.01 in FY20, reports WealthPK.

As of June 30, 2021, the government owned 31.68% of total shares, associated companies 4.67%, NIT and ICP 0.05%, banks, development financial institutions and non-banking financial institutions 13.98%, insurance companies 10.40%, modarabas and mutual funds 7.21%, general public (local, foreign) 13.17% and others 15.82% shares.

Financial Performance

During the Fiscal Year 20-21, the company generated a revenue of Rs644 billion over Rs618 billion in 2019-20, registering an increase of 4%.The gross profit for FY21 was Rs52.85 billion from Rs54.39 billion in FY20. The operating profit for FY21 was Rs55.87 billion compared to Rs57.39 billion in FY20, while the net income for FY21 was Rs10.98 billion compared to Rs5.99 billion in FY20, posting an increase of 83%.

The earnings per share witnessed mixed trends during recent years. In 2018, the EPS was Rs17.54 which dropped to Rs11.16 in 2019 and Rs9.46 in 2020. However, it grew to Rs17.32 in 2021.

Profit and loss over the years

Profitability was high in 2020 compared to 2019 as the gross profit and operating profit was low in 2019. In 2021, the profitability increased but was still less compared to 2020. In 2020, the gross and operating profits were maximum. 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.

Credit : Independent News Pakistan-WealthPk