Engro Powergen earns Rs1.27bn in third quarter

MG News | October 14, 2024 at 12:51 PM GMT+05:00

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October 14, 2024 (MLN): Engro Powergen Qadirpur Limited (PSX: EPQL) posted a net profit of Rs1.27 billion [EPS: Rs3.91] during the quarter ending September 2024, up 3.6% compared to a profit of Rs1.22bn [EPS: Rs3.77] in the same period last year (SPLY).

After accounting for the unappropriated profit brought forward from last year, the profit available for appropriation stood at Rs10.5bn.

Along with the results, the company announced an interim cash dividend of Rs2.5 per share i.e. 25%. This is in addition to the interim cash dividend of Rs3.5 already paid during the year.

Going by the results, the company's revenue inched down by 0.1% to Rs3.82bn as compared to Rs3.82bn in SPLY.

Moreover, the cost of sales rose by 1.7%, worsening the gross profit by 3.9% to Rs1.17bn in Q3 2024.

Other income increased by 521.5% to stand at Rs709.32m in Q3 2024 as compared to Rs114.13m in SPLY.

On the expense side, the company's administrative expenses rose 47.6% from last year to Rs119.92m, selling and distribution expenses rose YoY to Rs0m, and other operating expenses fell 41.9% YoY to Rs12.6m.

Unconsolidated (un-audited) Financial Results for quarter ended September 30, 2024 (Rupees in '000)
	Sep 24	Sep 23	% Change
Sales	3,817,046	3,820,972	-0.10%
Cost of sales	(2,651,351)	(2,608,100)	1.66%
Gross Profit/ (loss)	1,165,695	1,212,872	-3.89%
Administrative Expenses	(119,923)	(81,259)	47.58%
Other Income	709,324	114,130	521.51%
Other Operating Expenses	(12,604)	(21,698)	-41.91%
Finance Cost	(474,235)	-	-
Profit/ (loss) before taxation	1,268,257	1,224,045	3.61%
Taxation	(3,205)	(2,935)	9.20%
Net profit/ (loss) for the period	1,265,052	1,221,110	3.60%
Basic earnings/ (loss) per share	3.91	3.77	-

Amount in thousand except for EPS

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