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HomeEquityEPQL: Bottom line sees contraction by 55% YoY in 1HCY22

EPQL: Bottom line sees contraction by 55% YoY in 1HCY22

August 04, 2022 (MLN): Engro Powergen Qadirpur Limited (EPQL) has registered a net profit worth Rs405.64 million (EPS: Rs1.25) for the half year ended on June 30, 2022, depicting a decline of 55% YoY against the net profit of Rs905mn (EPS: Rs2.79) due to lower gross margins, the company’s financial statement sent to Exchange said.

In conjunction with financial results, the company recommended an interim cash dividend for the half-year ended June 30, 2021, at Rs5 per share i.e. 50%.

During the review period, the top line of the company shrank by 12.31% YoY to stand at Rs4.26bn while the cost of sales stood at Rs3.83bn, down by 6.88% YoY. Consequently, gross profit fell by 42.46% YoY to Rs426mn, squeezing margins by a whopping 524ppt to 10%.

On the expense front, the company’s administrative expenses climbed by 2x YoY to Rs155.15mn during 1HCY22. On the contrary, the other expenses of the company dropped by around 38%.

The company witnessed a considerable increase in its other income by that stood at 13.60mn compared to Rs2.33mn. Meanwhile, the company’s net finance income moved down by 43% YoY to Rs140mn.

In 1HCY22, the company also took a major hit in terms of colossal surge in taxation as it paid Rs4.97mn in the said period compared to Rs0.48mn in 1HCY21.

Profit and Loss Account for the half year ended June 30, 2022 (000' Rupees)

 

Jun-22

Jun-21

% Change

Sales

4,260,074

4,857,894

-12.31%

Cost of Sales

(3,833,933)

(4,117,279)

-6.88%

Gross Profit

426,141

740,615

-42.46%

Administrative Expenses

(155,157)

 (60,940)

154.61%

Other Expenses

(14,012)

 (22,511)

-37.75%

Other Income

13,595

 2,330

483.48%

Profit from Operations

270,567

659,494

-58.97%

Finance Income-net

140,046

 246,005

-43.07%

Workers' profits participation fund

–   

   –  

 

Profit before Taxation

410,613

905,499

-54.65%

Taxation

(4,965)

 (480)

934.38%

Profit for the Period

405,648

905,019

-55.18%

Earnings per share – Basic and Diluted

1.25

2.79

-55.20%

 

Copyright Mettis Link News

Posted on:2022-08-04T14:48:45+05:00

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