Engro Powergen profits grow by 3.85% following reduced cost of production

October 16, 2018 (MLN):  The profits for Engro Powergen Qadripur Limited have slightly surged by 3.85%, owing to a considerable decline in the cost of production of the company for the nine months ending September 30th, 2018 as compared to the corresponding period last year

According to the notification issued to PSX by the company, the cost of sales fell by almost Rs. 518 million (7.73%), negating the effect of decreased sales on the gross profit which increased by Rs. 126 million (6.02%) as compared to the corresponding period last year.

A major blow to the company profits however came from a reduced non-core income by 98.71%, which almost amounted to Rs. 108 million.

Combined effect of reduction in Administrative expenses by Rs. 8.1 million (5.93%) along with finance cost by Rs. 47 million (22.35%) managed to upswing the ultimate profits of the company.

Correspondingly, the Earnings per share reported an increase of 3.85% for the period ending September 30th, 2018 as compared to last year.

Profit and Loss Account for the Nine Months Ending on September 30th 2018 ('000 Rupees)

 

Sep-18

Sep-17

% Change

Sales

8,406,930

8,798,825

-4.45%

Cost of sales

-6,185,149

-6,703,292

-7.73%

Gross profit

2,221,781

2,095,533

6.02%

Administrative expenses

-128,777

-136,892

-5.93%

Other expenses

-5,263

-2,863

83.83%

Other income

1,420

110,028

-98.71%

Profit from operations

2,089,161

2,065,806

1.13%

Finance cost

-165,030

-212,520

-22.35%

Profit before taxation

1,924,131

1,853,286

3.82%

Taxation

-272

-380

-28.42%

Profit for the period

1,923,859

1,852,906

3.83%

Earnings per share – basic and diluted

5.94

5.72

3.85%

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Posted on: 2018-10-16T13:04:00+05:00

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