Engro Powergen takes a breather as profits jump by 36%
MG News | October 16, 2019 at 03:09 PM GMT+05:00
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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