KARACHI: Sui Northern Gas Pipelines Ltd (SNGPL) published incomes of Rs8.9 billion in the initial nine months of 2020-21, up 54.7 percent from a year back, according to a notice on the Pakistan Stock Market (PSX) on Monday.
Along with the synchronised launch of the economic results for October-December 2020 and January-March, the gas circulation business also announced an interim cash money reward of Rs2 per share. Its web revenue was Rs2.7 bn and Rs3bn for the two quarters, respectively.
In the nine-month period, SNGPL’s sales declined 12pc year-on-year regardless of a 19pc annualised jump in the off-take of imported gas or RLNG.
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“Enhanced RLNG sales were countered by lower natural gas despatches (depleting gets) as well as a 27pc dip in the imported rate instead of decreasing global Brent oil price (down 15pc year-on-year) in the middle of extreme erosion in accumulated demand post-Covid-19,” claimed a research study note by Arif Habib Ltd
. At the same time, money costs went down 19pc year-on-year in the January-Mar period to Rs28.8 bn as a result of a sharp cut of 625 basis points in the benchmark rates of interest by the central bank to sustain organizations struck by the coronavirus, it stated. “This mostly sustained the significant jump in earnings during the period under testimonial,” it added.
The share rate of SNGPL decreased 2.07 computer to Rs47.34 on Monday.