February 13, 2020 (MLN): Nishat Power Limited (NPL) has posted net profits of Rs 2.49 billion for the half-year ended on December 31st 2019, translating into earning per share which clocked in at Rs 7 per share.
When compared with the corresponding period of last year, the profits grew by 31% YoY mainly due to higher penal income and a positive impact of USD indexation.
During the period, the Company posted a turnover of Rs 7.2 billion against the cost of sales of Rs 3.9 billion, resulting in a gross profit of Rs 3.3 billion which was 34.7% higher than gross profits of the same period last year.
Furthermore, due to the lower load factor, the cost of sales of the company declined by 39%YoY. As a result, the gross margins of the company improved from 28% to 46%.
In a higher interest rate environment, the financial charges of the company rose by 49% YoY on account of excess short-term borrowing.
Financial Results for the year ended December 31, 2019 ('000 Rupees) |
|||
---|---|---|---|
|
Dec-19 |
Dec-18 |
% Change |
Sales |
7,262,159 |
8,917,570 |
-18.56% |
Cost of sales |
(3,924,998) |
(6,440,282) |
-39.06% |
Gross profit |
3,337,161 |
2,477,288 |
34.71% |
Administrative expenses |
(176,370) |
(131,594) |
34.03% |
Other expenses |
– |
(2,962) |
|
Other income |
3,633 |
3,965 |
-8.37% |
Finance cost |
(667,809) |
(448,018) |
49.06% |
Share of loss of associate |
– |
– |
|
Profit before taxation |
2,496,615 |
1,898,679 |
31.49% |
Taxation |
– |
– |
|
Profit for the year |
2,496,615 |
1,898,679 |
31.49% |
Earnings per share – basic and diluted (Rupees) |
7.051 |
5.362 |
31.50% |
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