Sui Southern Gas Company Limited reported a Rs. 8.29 billion profit in FY24

Sui Southern Gas Company Limited (SSGC) reported a Rs. 8.29 billion profit in FY24, marking a sharp rebound from a Rs. 836 million loss in FY23.

Earnings per share rose to Rs. 9.41, and net revenue reached Rs. 465.87 billion. Operating profit soared to Rs. 25.15 billion, despite rising finance costs.

The turnaround was driven by higher other income and reduced expenses, although gross profit dropped year-over-year.

However, auditors flagged Rs. 47.48 billion in doubtful receivables, mainly from K-Electric and Pakistan Steel Mills, as a major risk.