Corporate results: From loss-making to profitable, SNGPL turns things around
ISLAMABAD: The Sui Northern Gas Pipeline Limited (SNGPL) has turn a profit-making association from due to poignant rebate in losses.
According to a notice sent to a Pakistan Stock Exchange, a association reported a distinction of Rs124 million in a financial year 2015-16 opposite a detriment of Rs2.4 billion in financial year 2014-15. The company’s gain per share were Rs0.20 compared to Rs3.93 detriment per share in 2014-15.
The tangible distinction in 2015-16 was Rs2.5 billion though Oil and Gas Regulatory Authority (Ogra) had done adjustments in change of a final 3 years, ensuing in rebate of profit, a comparison central of SNGPL told The Express Tribune.
He pronounced that vital contributors in branch around a association were rebate in waste and increasing assets. He pronounced that unaccounted-for-gas (UFG) stood during 10.98% in 2014-15, that came down to 9.21%. Following a augmentation of tube projects in a destiny company’s resources would be serve increased, a central added.
SNGPL’s UFG loss, caused by gas hidden and complement leakages, forsaken to 9.21% in Jun 2016, ensuing in softened gain for a gas utility. Now, a waste have serve decreased.
Apart from this, a association is operative on augmenting a tube network to raise ability and broadcast 1.2 billion cubic feet of liquefied healthy gas per day.
“The UFG detriment has depressed serve to 8.3% and a impact will be reflected in a company’s arriving income requirement,” suggested a comparison central of SNGPL while articulate to The Express Tribune. “A 1% rebate in a UFG turn means injection of Rs2 billion into a profit.”
According to a official, Ogra allows liberation of 4.5% UFG detriment from gas consumers since a remaining weight is borne by a company. The decrease in UFG turn will yield a association an event to wand off a vital strike to a change sheet.
Published in The Express Tribune, Dec 14th, 2016.
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Article source: http://tribune.com.pk/story/1262297/corporate-results-loss-making-profitable-sngpl-turns-things-around/