Engro Powergen takes a breather as profits jump by 36%

MG News | October 16, 2019 at 03:09 PM GMT+05:00

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October 16, 2019 (MLN): Engro Powergen Qadirpur Limited (EPQL) has declared earnings of Rs. 2.6 million (RS. 8.06) in its latest financial results for the nine months ended September 30, 2019. This signifies a growth of nearly 36% over the same period of last year.

A number of factors contributed to the growth in company’s profits, including increase in gross profits by 24%, decline in administrative expense by 32% and finance cost by 58%.

A massive rise in the non-core income also helped in lifting the bottom-line earnings of the company.

Nonetheless, EPQL suffered some setbacks in the form of rise in income tax expense by a substantial margin as well as higher non-core expenses.

Profit and Loss Account for the nine months ended September 30, 2019 (Rupees)
	Sep-19	Sep-18	% Change
Sales	10,835,384	8,406,930	28.89%
Cost of Sales	(8,041,438)	(6,164,260)	30.45%
Gross Profit	2,793,946	2,242,670	24.58%
Administrative Expenses	(60,549)	(89,099)	-32.04%
Other Expenses	(105,888)	(65,830)	60.85%
Other Income	53,721	1,420
Profit from Operations	2,681,230	2,089,161	28.34%
Finance Cost	(68,287)	(165,030)	-58.62%
Profit before Taxation	2,612,943	1,924,131	35.80%
Taxation	(2,662)	(272)	878.68%
Profit for the Period	2,610,281	1,923,859	35.68%
Earnings per share - Basic and Diluted	8.06	5.94	35.69%

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