Sui Southern Gas Company Limited (SSGC) has made a remarkable financial comeback, posting a net profit of Rs. 8 billion for the nine months ending March 31, 2024. This marks a significant turnaround from the previous year’s Rs. 17 billion loss.
The recovery was fueled by a 63.8% surge in revenue, reduced operating expenses, and a 74% increase in other income. These positive factors helped SSGC strengthen its financial position, despite a notable 76.7% rise in finance costs. The company’s profit before tax climbed to Rs. 12 billion, reflecting substantial financial growth.
A key highlight of this performance was the earnings per share (EPS), which soared to Rs. 8.88, a sharp contrast to last year’s loss of Rs. 19.1 per share. This improvement signals enhanced profitability and financial stability.
SSGC’s financial resurgence can be attributed to effective management, higher revenue generation, and strategic cost control. Having overcome past challenges, the company is now in a stronger position, with its positive financial results pointing toward a promising future.
