SSGC profit drops 26% to Rs2.5bn in FY26
Amid lower revenue, Sui Southern Gas Company Limited (SSGC) saw its profit decline by over 26% to Rs2.54 billion in the year ended June 30, 2026. The company registered a profit of Rs3.44 billion in the same period of the previous year, according to its consolidated financial statements, released to the Pakistan Stock Exchange (PSX) on Thursday. Consequently, earnings per share (EPS) decreased to…
Sui Southern Gas Company Limited (SSGC) reported a significant drop in profit for the fiscal year ending June 30, 2026. Profit fell by more than 26% to Rs2.54 billion, down from Rs3.44 billion in the same period last year. Consequently, earnings per share dipped to Rs2.89 from Rs3.91. Revenue from gas sales contracts decreased by 16% to Rs378.12 billion, compared to Rs450.70 billion the previous year.
After accounting for a Rs8.67 billion tariff adjustment, net revenue stood at Rs369.46 billion, a 17% decline from Rs446.44 billion. The cost of gas sales fell nearly 17% to Rs361.36 billion, leading to a gross profit decrease of 34% to Rs8.10 billion. Operating expenses decreased to Rs14.40 billion, while other operating income increased by nearly 9% to Rs26.78 billion.
Operating profit remained relatively flat at Rs20.48 billion, compared to Rs20.51 billion the prior year. Finance costs rose to Rs14.27 billion, and the company paid Rs2.85 billion in levy, a 26% decrease from Rs4.41 billion in the previous year. Profit before taxation stood at Rs3.36 billion, down from Rs3.95 billion. Taxes paid amounted to Rs817.44 million, a 61% increase from Rs507.49 million.
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