KARACHI: Sui Northern Gas Pipe Lines Limited (SNGPL) has earned profit after tax of Rs 1,399 million during the period from July to September 2016.
The company witnessed a loss before tax of Rs 776 million and loss after tax of Rs 543 million during last year of corresponding period.
The earning per share for the period is Rs 2.21 as against loss per share of Re. 0.86 for the period ended September 30, 2015. Before and after tax profit declared by the Company for the July-September quarter is the highest ever profit earned by the Company in any quarter of the preceding years.
According to the SNGPL officials despite all the economic challenges and financial constraints, the Company has turned around into a profit-making organisation. This has primarily been achieved by reducing UFG losses to 8.50 percent as against 10.57 percent in the corresponding period, the financial impact of which is saving of Rs 1,233 million.
The Board of Directors has appreciated the efforts of the Company and its Management and directed the Management to further endeavour for improvement of operational and financial results during the next three quarters of current financial year.
