SNGPL Posts Record Profit, Cuts Gas Losses to 18-Year Low

Lahore – Sui Northern Gas Pipelines Limited (SNGPL) reported its highest-ever profitability during a Corporate Briefing Session (CBS) held at Faletti’s Hotel, Lahore, on Thursday. The session, conducted in line with Pakistan Stock Exchange (PSX) requirements, brought together shareholders, analysts, and other stakeholders both in person and via video link.

SNGPL’s management shared a detailed review of its operational and financial performance for the fiscal year 2023-24. The Company posted a record profit before tax of Rs. 29.84 billion and profit after tax of Rs. 18.98 billion. Earnings per share (EPS) stood at Rs. 29.92, reflecting a significant increase from the previous year.

A key highlight was the reduction of Unaccounted for Gas (UFG) losses from 5.15% to 4.93%—the lowest level in 18 years—marking a major operational achievement for the utility.

During the session, the Company’s Managing Director emphasized the impact of efficiency improvements and better control measures across the distribution network.

An interactive Q&A session followed, where shareholders and analysts raised questions regarding profitability, UFG mitigation strategies, regulatory developments, and the Company’s future outlook.