Lahore (April 29) – The Board of Directors of Sui Northern Gas Pipelines Limited (SNGPL) on Saturday recommended a final cash dividend of Rs. 7.50 per share (equivalent to 75%) for the year ended June 30, 2024.
The Board also approved the Annual Accounts for FY 2023–24. SNGPL recorded its highest-ever profitability, with a remarkable profit before tax around Rs. 30 billion. Profit after tax stood at an impressive Rs. 19 billion, translating into Earnings Per Share (EPS) of Rs. 29.92 — a significant surge from the Rs. 10.6 billion profit after tax and EPS of Rs. 16.66 recorded in the corresponding period last year.
Throughout the fiscal year, SNGPL demonstrated exceptional resilience and operational excellence, achieving notable milestones across all facets of its business. Despite facing a challenging global environment marked by heightened geopolitical tensions and financial market volatility, the Company delivered outstanding results, reinforcing its strong foundation and future prospects.
The Board lauded the Management’s commendable efforts, particularly in the area of UFG (Unaccounted for Gas) control, achieving lowest UFG in the past eighteen years, which is 4.93% and acknowledged the unwavering dedication and professionalism of the Company’s workforce in meeting and exceeding the targets set by the Board.
In the esteemed presence of the Board of Directors, Mr. Ismail Qureshi, Chairman extended heartfelt appreciation to the entire SNGPL team — Board Members, Management, and Staff — for their invaluable contributions. Special gratitude was also conveyed to the Ministry of Energy (Petroleum Division) for their continuous support and strategic guidance, which have been instrumental to the Company’s success.
Managing Director Mr. Amer Tufail, echoing these sentiments, underscored that the sustainability of SNGPL’s remarkable performance is a testament to the synergistic efforts of the Board, the Ministry of Energy, and the dedication of the entire SNGPL family.
With a robust foundation and a clear strategic direction, SNGPL looks ahead with renewed confidence to continue delivering excellence and creating enduring value for its stakeholders. ENDs
