October 29, 2019 (MLN): Nishat Chunian Power Limited (NCPL) has declared its financial results today for the quarter ended September 30th 2019, according to which it has posted its net profits of Rs 1 billion (EPS: Rs2.91), up by 19% YoY compared to last year net profit of Rs 897 million (EPS: Rs 2.44).
During the period, top-line earnings of the company surged to 5.13% YoY owing to higher PKR/USD indexation which was partly offset by the lower load factor.
More notably, the colossal increase in finance cost by 91% as a result of short term borrowings along with higher interest rates, offset the profitability of the company.
The profitability of the company rose due to top-line earnings on the back of greater load factor in 1QFY20 when compared to 4QFY19.
Profit and Loss Statement for the Quarter Ended September 30th 2019 ('000 Rupees)
|
|||
---|---|---|---|
|
Sep-19 |
Sep-18 |
% Change |
Sales |
5,426,037 |
5,161,137 |
5.13% |
Cost of Sales |
(3,784,187) |
(3,944,814) |
-4.07% |
Gross Profit |
1,641,850 |
1,216,323 |
34.98% |
Administrative expenses |
(38,780) |
(37,693) |
2.88% |
Other expenses |
(408) |
(1,907) |
-78.61% |
Other income |
12,639 |
7,538 |
67.67% |
Finance cost |
(547,395) |
(286,852) |
90.83% |
Profit before taxation |
1,067,906 |
897,409 |
19.00% |
Taxation |
– |
– |
|
Profit for the year |
1,067,906 |
897,409 |
19.00% |
Earnings per share – basic and diluted (Rupees) |
2.91 |
2.44 |
19.26% |
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