ISLAMABAD: SNGPL has earned profit after tax of Rs5,917 million and EPS of Rs9.33 for the period ended December 31, 2020 as compared to profit after tax of Rs4,696 million and EPS of Rs7.40 during the corresponding period of last year. Based on the declared profit, the Company has proposed an interim cash dividend of 20 percent i.e. Rs2 per share for period ended December 31, 2020.

Moreover, SNGPL has been able to earn historically high net profit amounting to Rs8,939 million for the period ended March 31, 2021 as against profit of Rs5,779 million during the corresponding period of last year. The earnings per share for the period under review is Rs14.09 as against earnings per share of Rs9.11 for the same period last year.

Despite all odds, including prevailing Covid-19 situation the company has been able to reduce the UFG losses during the periods under review, both in volumetric and percentage terms from 20,893 MMCF (10.39 percentage) (Jul-Dec-19) to 15,011 MMCF (7.56 percentage) (Jul-Dec-20) which has resulted into saving of Rs2,819 million to the Company which accumulated to Rs4,137 million by March 31, 2021 as a result of reduction of UFG losses from 33,935 MMCF (11.15 percentage) (Jul-Mar-20) to 24,755 MMCF (8.45 percentage) (Jul-Mar-21).

Copyright Business Recorder, 2021