SNGPL earns Rs 510 million profit before tax

Sui Northern Gas Pipeline Limited (SNGPL) earned Rs 510 million profit before tax and Rs 445 million profit after tax during the quarter for the period ended March 31,2010. The earning per share during the period under review was Rs 0.81. The Board of Directors of the Company approved the un-audited third quarter accounts during a meeting held here on Tuesday at its headquarter.
Imtiaz Mehmood, Deputy Company Secretary said that gas sales of company in terms of volume during the period remained almost same ie 439,000 MMCF, as compared to the corresponding period last year. He further said that sales in terms of rupees had decreased from Rs 124.639 billions to Rs 115.949 billions. The Board of Directors observed that due to decreasing benchmark of Oil and Gas Regulatory Authority (Ogra) for un-accounted for Gas (UFG) coupled with increasing gas prices has eroded the company's profitability drastically.