The profit after tax of Sui Southern Gas Company (SSGC) has declined to Rs 795.793 million in the quarter ended September 30, 2011 as compared to Rs 1,113.771 million earned in the corresponding period in 2010. The board of directors of the company in its meeting held here on Thursday declared that the company's earning per share has reduced to Re 0.95 in the period under review against Rs 1.33 in the same period last year.
According to the financial results sent to Karachi Stock Exchange, the company's sales increased to Rs 34.820 billion in this quarter against Rs 34.034 billion in the same quarter last year. The company paid Rs 4.292 billion as sales tax in this period against Rs 4.407 billion paid in the same account in the same period last year. The company paid Rs 385.189 million as gas development surcharge in this period against Rs 1,103.122 million paid in the same account in the same period last year.
The company's cost of sales increased to Rs 30.177 billion in this quarter against Rs 28.341 billion in the same quarter last year. Administrative and selling expenses increased to Rs 673.132 million against Rs 617.835 million, while other operating expenses reduced to Rs 98.900 million against Rs 109.374 million.
The company's other operating income decreased to Rs 762.158 million against Rs 1,086.795 million, while other non-operating income increased to Rs 2.301 billion against Rs 2.238 billion. The finance cost increased to Rs 1.802 billion against Rs 1.067 billion. The company's profit before taxation declined to Rs 1.224 billion in this quarter against Rs 1.713 billion in the same quarter last year.
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