Sui Southern reports a loss of Rs. 9.3 billion in 6 months

As per the documents submitted to the stock exchange, Sui Southern Gas Company Limited (SSGC) encountered larger losses in the initial six months of 2023. Their losses surged to PKR 9.3 billion from PKR 1.9 billion recorded in the corresponding period of the previous year.

Throughout the first half of the current year, the company’s overall loss amounted to PKR 2,197 million. This marks a substantial shift from the PKR 2,061 million profit they attained last year. Furthermore, their finance costs surged by 35.5 percent, reaching PKR 3,011 million.

Moreover, the company incurred additional charges of PKR 6,257 million, representing a 17.5 percent increase compared to last year’s PKR 5,321 million.

Sui Southern Gas Company Limited primarily operates in the distribution of natural gas in Sindh and Baluchistan. They are also involved in other gas-related activities such as manufacturing and selling gas meters, as well as constructing pipelines.

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