Karachi May 22 2023: Sui Southern Gas Company Limited (SSGC) reported loss of PKR 2.7 billion in quarter ended December 2021 after reporting profit in the first quarter, according to company filing to the exchange.
The loss is 2.89 times higher when compared with loss of PKR 946 million in the same period last year.
SSGC share price drop 40 paisa or 3.98 percent after the announcement to trade at PKR 9.66 (PST 11:50) at Pakistan Stock Exchange.
SSGC booked finance cost of PKR 1.1 billon in the quarter ended December 2021 compared with financial charges of PKR 1.4 billion in the same period last year.
Other operating expense of the company soar to PKR 2.0 billion compared with just PKR 50 million same period last year.
Sui Southern Gas Company Limited’s main activity is transmission and distribution of natural gas in Sindh and Baluchistan. The Company is also engaged in certain activities related to the gas business including the manufacturing and sale of gas meters and construction contracts for laying of pipelines.