Engro Powergen takes a breather as profits jump by 36%

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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Posted on: 2019-10-16T15:09:00+05:00

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