February 27, 2020 (MLN): Nishat Chunian Power Limited (NCPL) has announced its financial results today, wherein it has reported profits of Rs. 2.09 billion (EPS: Rs. 5.71) for the half year, and Rs. 1.02 billion (EPS: Rs. 2.8) for the quarter ended December 31, 2019.
Even though the company’s topline earnings fell by 8.2% due to lower load factor, the gross earnings managed to rise by 30% owing to the fall in cost of production by 24% during the first six months of Fiscal Year 2020.
Another major highlight from the company’s results was the 91% increase in finance costs, which ensued from increase in interest rates as well as rising demand for working capital.
Profit and Loss Statement for the half-year ended December 31, 2019 ('000 Rupees) |
|||
---|---|---|---|
Dec-19 |
Dec-18 |
% Change |
|
Sales |
7,782,328 |
8,481,574 |
-8.24% |
Cost of Sales |
(4,496,388) |
(5,955,667) |
-24.50% |
Gross Profit |
3,285,940 |
2,525,907 |
30.09% |
Administrative expenses |
(76,169) |
(88,186) |
-13.63% |
Other operating expenses |
(599) |
(4,186) |
-85.69% |
Other income |
22,661 |
14,430 |
57.04% |
Finance cost |
(1,133,982) |
(593,657) |
91.02% |
Profit before taxation |
2,097,851 |
1,854,308 |
13.13% |
Taxation |
– |
– |
|
Profit for the year |
2,097,851 |
1,854,308 |
13.13% |
Earnings per share – basic and diluted (Rupees) |
5.71 |
5.05 |
13.07% |
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