Earning Review: NPL's annual profits soar by 17% YoY
By MG News | September 18, 2019 at 03:23 PM GMT+05:00
September 18, 2019 (MLN): Nishat Power Limited (NPL) has announced its financial results today for the year ended June 30th 2019, as per which the company posted its net profits after tax soared by 17.4% YoY to Rs 3.7 billion with EPS locked in at Rs 10.6, against Rs 3.2 billion (EPS: Rs 9) earned last year.
Despite decline in topline earnings by around 8% due to decline in dispatches, the company managed to earn profits mainly on the back of PKR depreciation during the year and higher penal income.
The positive impact of the aforementioned factors was partially offset by rise in other expenses (473%) and finance cost (28%) owing to higher interest rates.
| Financial Results for the year ended June 30th 2019 ('000 Rupees) | |||
|---|---|---|---|
|
| Jun-19 | Jun-18 | % Change |
| Sales | 15,581,918 | 16,929,085 | -7.96% |
| Cost of sales | (10,584,021) | (12,707,336) | -16.71% |
| Gross profit | 4,997,897 | 4,221,749 | 18.38% |
| Administrative expenses | (274,201) | (320,567) | -14.46% |
| Other expenses | (15,884) | (2,770) | 473.43% |
| Other income | 7,558 | 51,044 | -85.19% |
| Finance cost | (945,646) | (737,319) | 28.25% |
| Share of loss of associate | - | (843) | -100.00% |
| Profit before taxation | 3,769,724 | 3,211,294 | 17.39% |
| Taxation | - | - |
|
| Profit for the year | 3,769,724 | 3,211,294 | 17.39% |
| Earnings per share - basic and diluted (Rupees) | 10.646 | 9.069 | 17.39% |
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