SNGPL Growth up by 83%: The MD SNGPL tells investors
The MD SNGPL, Ali J. Hamdani, has said that the company’s profitability has increased from Rs. 5.99 billion in FY 2019–20 to Rs. 10.99 billion in FY 2020–21, demonstrating 83% growth.
The corporate Briefing session of Sui Northern Gas Pipelines Limited (SNGPL) was held on Friday, 26th August 2022 at Pakistan Stock Exchange, Karachi.
Managing Director Sui Northern Gas Pipelines Limited (SNGPL) Ali J. Hamdani briefed the analysts, investors, and shareholders about the Company’s performance and future prospects of the Company.
While addressing the event, MD SNGPL Ali J. Hamdani said that the Company’s profitability has increased from Rs. 5.99 billion in FY 2019-20 to Rs. 10.99 billion in FY 2020-21 demonstrating 83% growth.
He cited a reduction in UFG and financial charges, operational excellence, and technological solutions as the key contributing factors behind it. He also informed that the company’s profitability for the first quarter of FY 2021-22 stands at Rs. 3.03 billion.
MD SNGPL Ali J. Hamdani acknowledged the role of the management and Board of Directors in the current turnaround and profitability of the Company.
He also said that technology utilization as well as network upgradation initiatives also greatly contributed to the growth of the Company.
He briefed the participants on initiatives of SCADA installation, GIS mapping of the network, the launch of mobile apps to further improve customer services, and the establishment of kiosks in public places. MD SNGPL emphasized human resource capacity building to achieve sustainable success.
Highlighting the energy sector’s situation, MD SNGPL said that due to depleting indigenous gas resources, RLNG now has a 53% share in gas supplies which will continue to increase.
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He said that the Company is aware of RLNG’s short supply owing to various global and regional dynamics and hence it is exploring alternative options to mitigate energy shortfall.
MD SNGPL also hinted that the company has been approached for fast-track development work on recent gas discoveries in North Waziristan including Bannu in Khyber Pakhtunkhwa.
Sharing the future outlook of the company, the Company Management said that the Company is weighing in diversification possibilities in areas like LPG cylinder sale, solar power, biogas, EPC, and sale and sharing of acquired technical expertise among others.
MD SNGPL also expressed deep grief over the loss of lives and properties due to floods in various parts of the Country. He assured that SNGPL will make every possible effort to help the affected families.
Senior Management of the Company including Faisal Iqbal, CFO; Syed Jawad Naseem, SGM (BD); Saqib Arbab, SGM (Distribution); Imran Yousaf, SGM (ES); Kamran Akram, GM (Accounts); and Imtiaz Mehmood, Company Secretary were also present on the occasion.
The session was attended in large numbers by the analysts, investors, and shareholders who showed keen interest in the briefing conducted by the Company’s team led by Managing Director Ali J Hamdani.
The briefing was followed by a Question & Answer session in which all the queries were responded to by the Managing Director and Senior Management in a very positive manner.
