Sui Northern Gas Pipelines Limited (SNGPL) has received board approval to establish a wholly owned subsidiary, a move considered a step toward business diversification and operational expansion.
The OMC disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Thursday.
“The Board of Directors in its 638th Meeting held on Wednesday, June 25, 2025 has accorded approval to proceed with the formation/registration of a wholly-owned subsidiary company with an authorised share capital of Rs1 billion and an initial paid-up capital of Rs50 million.
“Any costs incurred by SNGPL for registration of the company will be charged to the new entity and recovered from it, once it is established,” read the notice.
SNGPL declares highest-ever profit and dividend for FY 2023–24
SNGPL recorded its highest-ever profitability in FY2023–24, with a remarkable profit before tax of around Rs30 billion.
Profit after tax stood at an impressive Rs19 billion, translating into Earnings Per Share (EPS) of Rs29.92 — a significant surge from the Rs10.6 billion profit after tax and EPS of Rs16.66 recorded in the corresponding period last year.
Sui Northern Gas Pipelines Limited is a public limited company incorporated in Pakistan under the Companies Act,1913 (now Companies Act, 2017). The principal activity of the Company is the purchase, transmission, distribution and supply of natural gas.
