Karachi: Sui Southern Gas Company Limited (SSGC) has reported its financial results for the year ended June 30, 2026, revealing a significant financial downturn. The company's revenue from contracts with customers, specifically gas sales, experienced a sharp decline, dropping to 357.76 billion rupees from 439.33 billion rupees in the previous year. This represents a very large or significant move of -18.55%.
The financial statements, dated November 5, 2026, highlight the challenges faced by SSGC in the previous fiscal year. Despite tariff adjustments, which amounted to a deduction of 8.67 billion rupees compared to 4.26 billion rupees in 2025, the overall revenue decreased to 349.09 billion rupees from 435.07 billion rupees.
The cost of gas sales also saw a reduction, amounting to 343.43 billion rupees from the previous year's 424.08 billion rupees. As a result, the company's gross profit fell to 5.66 billion rupees from 10.99 billion rupees, indicating a big move of -48.50% in profitability.
Operating expenses continued to exert pressure on the company's finances. Administrative and selling expenses increased to 8.46 billion rupees from 7.38 billion rupees. Other operating expenses decreased to 730.18 million rupees from 3.13 billion rupees, while the allowance for expected credit loss also saw a decrease to 4.97 billion rupees from 5.72 billion rupees.
The company's operating profit stood at 18.05 billion rupees, down from 19.24 billion rupees in 2025. Finance costs increased to 14.27 billion rupees from 12.14 billion rupees, impacting the profit before levy and taxation, which decreased to 3.78 billion rupees from 7.10 billion rupees.
According to information available from the Pakistan Stock Exchange (PSX), SSGC's profit before taxation fell to 938.66 million rupees from 2.69 billion rupees, reflecting the ongoing financial difficulties faced by the company. The report also noted that there was no taxation for the year, leaving the profit for the year at 938.66 million rupees.
Earnings per share, both basic and diluted, decreased to 1.07 rupees compared to 3.05 rupees in the previous year. This reduction underscores the financial challenges SSGC has been enduring, as it navigates a complex market environment and works towards stabilizing its operations.