September 28, 2021 (MLN): Nishat Chunian Power Limited (NCPL) announced its FY21 financial result today where the company posted a profit after tax (PAT) of Rs2.51billion (EPS: Rs6.83), down by 45.52% YoY as opposed to Rs4.61bn (EPS: Rs12.54) in the same period last year.
During the fiscal year 2020-21, the net sales of the company witnessed an 11% YoY decline to clock in at Rs11.64bn mainly due to the absence of debt portion in sales, however, dispatches increased by 65% YoY to 538 GWh, Arif Habib research report cited. Resultantly, the gross margins plunged considerably to 32.4% YoY from 52% YoY amid higher load factor and PKR appreciation against the USD.
On the cost front, the other expenses jumped by 55x YoY to Rs174mn while administrative expenses saw a marginal decline of 2.3% YoY.
Meanwhile, the company reported a reduction of 52% YoY in finance cost to Rs984mn in FY21 due to lower short-term borrowings and a lower interest rate regime, which provided some solace to the financial wellbeing of the company.
Profit and Loss Statement for the Year Ended June 30th, 2021 ('000 Rupees)
