Sui Southern Gas Company Limited (SSGC) has reported a major financial recovery, earning a net profit of Rs. 8 billion in the nine months ending March 31, 2024. This is a big improvement compared to last year when the company faced a Rs. 17 billion loss.
The turnaround was driven by a 63.8% increase in revenue, lower operating expenses, and a 74% rise in other income. These factors helped SSGC improve its financial position despite a significant 76.7% increase in finance costs. The company’s profit before tax reached Rs. 12 billion, showing strong financial growth.
Another key highlight was the earnings per share (EPS), which rose to Rs. 8.88, a big jump from last year’s loss of Rs. 19.1 per share. This improvement indicates better profitability and financial stability.
SSGC’s financial recovery is a result of better management, increased revenue, and effective cost control. The company has successfully overcome previous challenges and is now in a stronger position. This positive financial performance reflects a promising outlook for the company’s future.
