Sui Southern Gas profit jumps six times

Net profit multiplied by more than six times to Rs999 million in the three months ended December 31, 2010.

KARACHI: Sui Southern Gas Company’s (SSGC) net profit multiplied more than six times to Rs999 million in the three months ended December 31, 2010 on the back of gains in gas development surcharge.

Gas development surcharge posted gains of Rs2.5 billion during October to December 2010 against a loss of Rs4.73 billion in the corresponding period last year, according to a notice sent to the Karachi Stock Exchange on Friday.

SSGC, distributor of natural gas in Sindh and Balochistan, supplied 388,828 million cubic feet per day (mmcfd) of gas in fiscal 2010 to over 2.2 million consumers.

Published in The Express Tribune, February 26^th, 2011.