Profit of the Sui Southern Gas Company (SSGC) after tax has declined to Rs 1.539 billion in the half year period ended December 31, 2011 as compared to Rs 2.113 billion in the corresponding period in 2010. The board of directors of the company in its meeting held here on Wednesday declared that the company's earning per share has increased to Rs 1.75 in the period under review against Rs 2.40 in the same period a year back.
According to the financial results sent to the Karachi Stock Exchange (KSE), the company's sales increased to Rs 68.916 billion in the half year period in 2011 against Rs 65.219 billion in the same period in 2010. The company paid Rs 8.433 billion as sales tax in this period in 2011 against Rs 8.267 billion paid in the same account in the same period in 2010 while Gas Development Surcharge increased to Rs 2.364 billion against Rs 1.413 billion.
The company's cost of sales increased to Rs 61.224 billion in the half year period in 2011 against Rs 57.273 billion in the same period in 2010. The company's profit before taxation reduced to Rs 2.393 billion in the half year period in 2011 against Rs 3.252 billion in the same period in 2010.
On quarterly basis, the company's profit after taxation declined to Rs 743.670 million translating earning per share of Re 0.84 in the quarter ended December 31, 2011 as compared to after tax profit of Rs 999.347 million with per share earning of Rs 1.13 million in the same quarter in 2010.