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SNGPL’s Profit Surged 31% to Rs7.82 Billion

SNGPL’s Profit Surged 31% to Rs7.82 Billion
SNGPL’s Profit Surged 31% to Rs7.82 Billion

SNGPL’s Profit Surged 31% to Rs7.82 Billion
SNGPL’s Profit Surged 31% to Rs7.82 Billion

Earnings from Sui Northern Gas Pipelines Limited (SNGPL) increased 31% to Rs 7.82 billion as at March 31, 2019, primarily due to strong growth in gas sales.

Profit was Rs.5.98 billion in the same period last year, according to a company report sent to the PSX.

As a result, earnings per share increased to 12.33 rupees during the reporting period compared to 9.43 rupees in the same period last year.

Over the course of the day, the stock price of the state-owned company fell by 1.21%, or 1.81%, to close at 65.74 rupees and to trade at 1.98 million shares at the PSX.

The company said its gas sales jumped 67 percent to Rs. 489.24 billion in the nine-month period, compared with Rs. 293.51 billion for the same period last year. Arif Habib Limited stated in its comments after the result that SNGPL’s sales had increased due to the growing share of expensive imported gas Re-gasified Liquefied Natural Gas (RLNG)- in total sales and an increase in locally produced gas prices. October 2018.

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