Sui Northern Gas Pipelines Limited (SNGPL) announced that its Board of Directors, in its 638th meeting held on June 25, has approved the establishment and registration of a wholly‑owned subsidiary.
According to a PSX filing, the new entity will have an authorized share capital of Rs. 1 billion and an initial paid‑up capital of Rs. 50 million. This step is part of SNGPL’s ongoing expansion and restructuring plans.
The company also clarified that any expenses incurred by SNGPL during the registration process will be charged to the new entity and recovered once it becomes operational.
SNGP reported a profit after tax of Rs. 18.97 billion for the fiscal year 2023–24 — an 80% increase compared to Rs. 10.56 billion in the previous year.
SNGPL announced an EPS of Rs. 13.01, up 280% year‑on‑year and 123% quarter‑on‑quarter.