Monday, August 15, 2022

SNGPL earning expects 10 percent increase YoY during FY18


Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at

Sui Northern Gas Pipelines Limited (SNGP) is scheduled to announce its FY18 / 1QFY19 financial result on Monday (22nd Apr’19). We expect the company to post earnings of PKR 9,474mn (EPS: PKR 14.94) during FY18, depicting a jump of 10% YoY.

Forecast by the analysts is premised on incremental capital expenditure incurred by the company in the said year.

Moreover, the company is expected to book a one-time positive impact of prior years’ (FY13-FY17) UFG adjustment at 7.6% as opposed to the benchmark 4.5%; total impact on the company arrives at PKR 1.1bn given the authority had already allowed a higher UFG between 6.73% in FY13 and 7.11% in FY17.

This would translate to a per share impact of PKR 1.25/share. Whereas during 1QFY19, the company is projected to unveil a bottom-line of PKR 1,914mn (EPS: PKR 3.02), stagnant over same period last year.

Key reason behind this performance is higher capital expenditure which will offset the impact of a rise in UFG.

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