Lahore: Sui Northern Gas Pipelines Limited (SNGPL) has released its annual report for the fiscal year ending June 30, 2026, revealing a complex financial landscape. The report, dated November 6, 2026, outlines both growth in equity and challenges in revenue streams.
SNGPL's equity and liabilities totaled 1.70 trillion Rupees as of June 30, 2026, compared to 1.68 trillion in the previous year. The company's total equity increased significantly to 78.92 billion Rupees from 70.65 billion Rupees, driven by a rise in revenue reserves which reached 72.58 billion Rupees, up from 64.30 billion Rupees in 2025.
The company’s non-current liabilities also saw a substantial increase, amounting to 244.42 billion Rupees, up from 213.45 billion Rupees. This increase was primarily due to a rise in long-term financing from financial institutions and employee benefit obligations.
Current liabilities, however, showed a decrease, standing at 1.37 trillion Rupees from 1.40 trillion Rupees the previous year. Although there was a reduction in trade and other payables, a significant component of the liabilities, short-term borrowings increased to 169.63 billion Rupees from 159.41 billion Rupees.
The report highlights a decline in revenue from contracts with customers, specifically from gas sales, which decreased to 1.15 trillion Rupees from 1.33 trillion Rupees in 2025. The overall revenue and tariff adjustment also fell to 1.11 trillion Rupees from 1.41 trillion Rupees.
According to information available from the Pakistan Stock Exchange (PSX), despite the decrease in revenue, SNGPL reported a profit for the year of 14.81 billion Rupees, a moderate move up from 14.59 billion Rupees in the previous year. The earnings per share increased to 23.35 Rupees from 23.01 Rupees.
The company faced challenges in managing operating expenses, which increased to 34.59 billion Rupees from 55.34 billion Rupees, with significant costs attributed to net impairment loss on financial assets and selling costs. However, operating profit improved to 59.89 billion Rupees up from 54.91 billion Rupees, indicating effective management of other income streams and operating expenses.
SNGPL's finance costs decreased to 25.23 billion Rupees from 30.47 billion Rupees in 2025, contributing to the overall profitability before levy and income tax, which rose to 34.66 billion Rupees from 24.45 billion Rupees.
The market category for SNGPL remains robust despite the financial challenges, reflecting the company's strategic adjustments in dealing with revenue declines and cost management, as detailed in the annual report.