Lahore: Sui Northern Gas Pipelines Limited (SNGPL) announced its un-audited financial results for the period ended December 31, 2023, during a board meeting held on November 20, 2024. The board declared no cash dividends, bonus shares, or right shares for this period. Additionally, no other entitlements or corporate actions were recommended.

The company's condensed interim statement of profit or loss revealed that the revenue from contracts with customers for gas sales, including tariff adjustments, rose significantly. For the half-year ended December 31, 2023, the revenue stood at 799,061.41 million rupees, up from 669,690.24 million rupees in the corresponding period of 2022.

The company's gross profit for the half-year was reported at 90,523.95 million rupees, compared to 46,401.23 million rupees in the previous year. Other income contributed an additional 20,671.72 million rupees, resulting in an operating profit of 54,580.97 million rupees, up from 29,655.76 million rupees in the previous year.

According to information available from the Pakistan Stock Exchange (PSX), SNGPL's finance cost for the half-year was 10,093.25 million rupees, leading to a profit before taxation of 44,487.72 million rupees. After accounting for taxation of 3,974.99 million rupees, the profit for the period was reported at 6,118.26 million rupees.

The earnings per share for the period were 9.65 rupees, down from 11.07 rupees in the previous year. The company's auditors highlighted the resolution of circular debt and tariff adjustments as factors heavily reliant on the Government of Pakistan's actions, particularly regarding intercorporate balances and gas price adjustments or subsidies.

The report on the un-audited accounts will be transmitted through PUCARS separately, within the specified timeframe.