Karachi September 6 2024: Sui Northern Gas Pipeline Limited, the largest gas distribution company of Pakistan, losses reduced to 5.29 percent in 1Q FY2023-24, according to company filing to the exchange.
Share price of the company fell 13.7 percent this year according to data available at Pakistan Stock Exchange.
The Unaccounted-For Gas (UFG) losses during the period under review decreased from 6,646 MMCF (7.37 percent) during July-September 2022 to 4,926 MMCF (5.29 percent) during July-September 2023. Despite new UFG benchmark put in place by the Regulator, this significant achievement has resulted in zero UFG disallowance compared to PKR 1,549 million in the corresponding period last year.
The guaranteed rate of return on assets under the tariff regime increased from 16.60 percent in FY2022-23 to 20.64 percent for FY2023-24.
The Company has earned a profit after tax amounting to PKR 3,706 million in 1Q FY2023-24 compared to PKR 2,577 million during the corresponding period last year. The earnings per share (EPS) for the period under review is PKR 5.84, an increase from PKR 4.06 for the same period last year.
During the period your Company laid 28.18 KMs Transmission Lines with diameters ranging from 6” to 24”. In addition to Transmission Lines, 233.833 KMs of Distribution mains were laid during the first quarter period ended on September 30, 2023 for improving pressure and supplying gas to various localities which has enhanced customer satisfaction level.
