LAHORE, Sept 30: The pre-tax profit of Sui Northern Gas Pipelines Ltd (SNGPL) increased by 17 per cent to Rs4.280 billion during the year 2004-05 from Rs3.664 billion in 2003-04.

This was disclosed in a meeting of directors of the company held here on Friday to approve the company’s accounts for the year ended on June 30, 2005.

The directors also proposed a cash dividend of 30 per cent to the company’s shareholders for the year.

According to a news release issued by the company, SNGPL earned sales revenue of Rs84.710 billion in 2004-05 as compared to Rs64.226 billion the previous year, registering an increase of 32 per cent.

It said the company’s net profit rose by 20 per cent to Rs2.755 billion during the year under review from the previous year’s Rs2.297 billion. The volume of gas also increased by 19 per cent to 537,086 mmcf from 452,338 mmcf.

The company added Rs7.434 billion in its average operational fixed assets during the year. The financial charges of the company dipped to Rs914 million from the previous year’s Rs967 million.